New CIT Act: tax returns and interim statements (1/38/17) (0)

22.09.2017

Passed

In this article we explore deadlines for filing corporate income tax (CIT) returns, advance payments and interim reporting requirements laid down by the new CIT Act. Read more..

New CIT Act: bad debts (2/38/17) (0)

22.09.2017

Passed

In this article we explore the subject of bad debts. Read more..

VAT treatment of vouchers (2) (3/38/17) (0)

22.09.2017

Practice

We continue the article in last week’s Flash News about middleman (agent) engagements and the VAT treatment of voucher sales. Read more..

Social Enterprise Bill (1/37/17) (0)

15.09.2017

Draft

Parliament debated the Social Enterprise Bill in its second reading on 11 May 2017, and the concept of social enterprise is included in the pieces of legislation relating to the tax reform. Although the tax reform and relevant amendments have kept Parliament from debating the Social Enterprise Bill in its third reading, it’s expected to come into force on 1 January 2018 even if it’s enacted as late as the end of 2017. This article explores the purpose of the new law, the concept and status of social enterprise, and some other aspects. Read more..

VAT treatment of vouchers (1) (2/37/17) (0)

15.09.2017

Practice

Traders are increasingly using vouchers in the form of prepaid cards, gift cards or otherwise. Since these cards are often distributed by middlemen, the VAT charge and the tax point should be determined in the context of middlemen defined by the VAT Act. This article explores the latest developments in the VAT treatment of vouchers and discusses some of the issues affecting traders that are using or planning to use vouchers. Read more..

 

 
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