Draft Government Decision on the norms for the application of Law nr. 88/2023 has been published for public debate. The law introduced new VAT exemptions with the right to deduct in the medical sector, with applicability from 12 June 2023. However, it was established that these VAT exemptions...
Italy: Italy has removed the annual revenue threshold for taxing qualified digital services in Italy, effectively broadening the applicability of the tax. There are also new payment terms for the tax, with an advance payment due. India: The Indian tax administration has issued guidance on how the...
Employment linked incentives announced in the union budget 2024 Tabling of the bill on reservation for local candidates by the Karnataka government Extension of working hours in the IT sector being deliberated by the Karnataka Government SOPs for authorised officers being issued for audit of exempted ...
business relating to such prior year or years (not being more than three years immediately preceding the year in which the said application is made) for which such accounts have been made up and self-certified copy of the report of audit as per the provisions of section 44AB for such ...
CBDT: Sets Systematic approach to verify 'high-risk' refund claims AY 2024-25 The Income Tax Department has introduced a systematic approach to verify 'high-risk' refund claims for the AY 2024-25 (Financial Year 2023-24) based on a Standard Operating Procedure (SOP) issued by the Income ...
The Italian Supreme Court, with judgment No. 7361, dated March 19 2024, has revisited the applicability of Italian transfer pricing regulations to interest-free intercompany loans. From a business perspective, the provision of an interest-free loan by a resident c...
Extension of deadline for accounting software with audit trail The applicability of using accounting software having audit trail has been deferred again and now shall be applicable from financial year commencing on or after the 1st day of April, 2023. ...
the Budget has announced that an expert committee would be set up to holistically examine the regulatory hurdles and other frictions that prevent further scaling up of such investments. The private equity and venture capital industry has for long been demanding clarity on applicability of goods and ...
A refresher on CAMT including rules for determining applicable corporation status Reliance on the prior IRS Notices and the proposed regulations Applicability dates of the proposed regulations Highlights and key takeaways of the proposed regulations Participants will be able to analyze the proposed regu...
The audit rate for all taxpayers fell between 2010 and 2019 although audit rates for lower-income groups were lower than those for higher-income taxpayers. The number of audits for returns with $5 to $10 million of income fell 81% during these years. Audits for returns with income over $...