While the United States imposes a retail sales tax, many countries across the globe impose a value-added tax. VAT is similar to the retail sales tax, but it is imposed at every stage of the production ...

Invoice timing: Taxpayers should also ensure that all VAT invoices are issued in a timely manner. VAT invoices must be issued by taxpayers within 15 days of the end of the month in which the goods or ...

In its recent decision in Lidl Great Britain Ltd v Closed Circuit Cooling Ltd (t/a 3CL) [2023] EWHC 2243 (TCC), the TCC provided some helpful guidance around the statutory payment provisions in the ...

The special value-added tax (VAT) invoice, also called special VAT fapiao, is an essential document used to offset input VAT from output VAT, thereby relieving the taxpayer from VAT payment ...

Bahamian companies will have two months to raise invoices for goods and services supplied prior to Value-Added Tax’s (VAT) introduction, otherwise these transactions will be deemed subject to the 7.5 ...