value-added tax


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  • noun

Synonyms for value-added tax

a tax levied on the difference between a commodity's price before taxes and its cost of production

References in periodicals archive ?
But the high court, through Associate Justice Estela Perlas-Bernabe said such dues and fees 'do not constitute as 'the income of recreational clubs from whatever source' that are 'subject to income tax' and part of the 'gross receipts of recreational clubs' that are subject to value-added tax.'
A document seen by Reuters shows the government aims to review the general rate of its value-added tax in the 2019/20 fiscal year that began on July 1.
the shared amount comprise the month's statutory distributable revenue of n652.949 billion, the gross revenue available from the value-added tax (vat) is n108.631 billion as against n106.826 billion distributed in the proceeding month, resulting in an increase of n1.805 billion.
DUBAI: Bahrain is set to be the next GCC country to implement a five percent value-added tax (VAT), UAE daily Khaleej Times reported.
Citing data from the BIR, the DOF said value-added tax (VAT) collections of BIR regional offices as of end-June fell by more than 13 percent to P63.217 billion from the P72.813 billion recorded in the same period last year.
The price of the post-paid line for TE will remain unchanged at EGP 30, plus the development fee of EGP 50, in addition to EGP 10 of value-added tax on the first bill and EGP 10 on monthly bills.
In this case, the accommodation provider shall i) collect value-added tax from customers (10 percent of the accommodation charge) and report and pay it to the taxation authorities, and ii) aggregate income from the accommodation business with other forms of income to pay income tax and local income tax.
As more and more governments view value-added tax (VAT) as part of an overall solution to boost their economies, they have also taken a harder look at VAT fraud and its ramifications, said an industry expert.
Summary: Tunisia has the highest value-added tax (VAT) in the Arab world, 19%, against 7 to 17% in Algeria, 14% in Egypt and 10% in Lebanon, according to a recent study
Saudi Arabia is expecting a total of SR35 billion ($9.3 billion) in revenue during the first year of applying the value-added tax (VAT), the project manager of VAT at General Authority of Zakat and Tax (GAZT) was quoted as saying in a media report.
Summary: The UAE's budget balance will return to surplus by 2019, owing to the recovery in oil prices, the introduction of new taxes - most notably the value-added tax in 2018, according to a recent research note by BMI Research.
Earlier this month, Khalid Ali Al Bustani, the director-general of the Federal Tax Authority, said that UAE firms will be able to begin registering for value-added tax (VAT) from the middle of September .
Dubai: An event was held to discuss the impact of the implementation of the Value-added tax (VAT) system among businesses in the region and the appropriate responses that should be taken by them in preparation for its application.
Value-added Tax is one of the most complex taxes facing businesses.
In a press statement following the meeting, Bahraini Minister of Finance said that the meeting agreed on the two drafts of the value-added tax and the selective tax, noting that there are a lot of technical details that will be discussed in the coming period.
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