It plays a pivotal role in its economic growth. Cities like Bengaluru, Hyderabad, and Pune are central for software development, with numerous GCCs focusing on application development, software maintenance, Internet of Things (IoT), and IT services, benefiting from India's large pool of skilled ...
Starting from January 1, 2022, if the R&D expenses of TSMEs do not form intangible assets and are included in the current profits and losses, on the basis of actual deduction, an additional 100 percent of such R&D expenses could be deducted from the taxable income amount; if the R&D expen...
In the agency business, if the agency contract signed between the client and the agency only specifies the agency matters, authorities and responsibilities, it is not a taxable voucher and thus shall not be stamped. 8. Certain training contracts Policy basis: Notice on Issues Concerning the Levy...
SST refers to the Malaysian sales and service tax, where a sales tax is imposed at the manufacturer level, and a service tax is paid by consumers who are using taxable services. Tax regulations are relatively fluid in Malaysia compared to neighbouring regions, which can make compliance challengin...
Taxable Goods at 10% Rate RM (Net amount of SLS-MY 10%) 10% RM Tax amount of SLS-MY 10% c) Perkhidmatan Bercukai selain dari Kumpulan H Taxable Services other than from Group H RM Net Amount Sales SVC-MY 6 + Net Amount Sales Adjustment box11c tax, SVC-MY 6 6% RM Ta...
What are types of excise taxes? Excise taxes are either fixed or proportional: specific or ad valorem taxes, respectively: Specific taxes. A specific tax is a fixed dollar amount. It’s the same for every purchase of a particular taxable item. Think of fixed fees added to a gallon of car...
Countries with territorial tax systems define what is and what isn’t taxable. Every country has its own rules and its own loopholes. Generally, income earned within a territorial tax country is subject to taxation. However, things get more complex when you work for an offshore company while ...
Taxable base of the supplies of services as per Art. 21, para 2 of the VAT Act with a place of supply in another EU member state Net amount of sales ESSS-BG 17 Taxable base of the supplies under Art. 69, para 2 of the VAT Act, Including supplies qualifying as distance sales wit...
There has been a lot of confusion in the air since the implementation of the Sales and Services Tax (SST) on 1 September with regards to prepaid reloads. While all major telcos have come out with their respective statements to indicate the SST charges imposed for prepaid top ups, the gove...
Currently, the 100 pilot and other large taxpayers individually notified by the BIR are the only ones obliged to comply, while the expansion calendar is still awaited. Read more about e-invoicing in the Philippines here. E-Invoicing in India: India’s Goods and Services Tax (GST) framework ...