Sri Lanka’s Value Added Tax (VAT) system is undergoing a significant structural reform with the introduction of a new standardised VAT Tax Invoice format. This reform was initially scheduled to come ...

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 ...

The tax authority wants the following elements to be compulsorily mentioned on the bill, that is the amount paid as Value Added Tax (VAT) and also the tax registration number of the establishment. A ...

Manama, Apr. 28 (BNA): The National Bureau for Revenue (NBR) held a workshop on VAT invoice compliance, which aimed to raise awareness of all VAT related aspects and the necessary procedures for ...