By: Recovering accumulated excess input value-added tax (VAT) has always put our VAT-registered taxpayers in a quandary on what is the best means to get back the excess tax payment when it amounts to ...

The legal provisions on refunding input value-added tax (VAT) upon dissolution of the company or upon the change of VAT status was unaffected by the TRAIN law. However, the TRAIN implementing ...

A new principle in relation to the value-added tax (VAT) refund system is emerging to the effect that only input taxes directly attributable to the zero-rated sales may be the subject of a claim for ...

Businesses often forgo input VAT credit if the purchase/expense invoice is more than 6 months old (or, 2 months in the case of monthly tax periods). Needless to say, such a tax position results in a ...