While the United States imposes a retail sales tax, many countries across the globe impose a value-added tax. VAT is similar to the retail sales tax, but it is imposed at every stage of the production ...

The special value-added tax (VAT) invoice, also called special VAT fapiao, is an essential document used to offset input VAT from output VAT, thereby relieving the taxpayer from VAT payment ...

Effective cash flow management is critical to running a successful business. However, many companies overlook this fundamental principle, focusing primarily on revenue under the assumption that ...

In its recent decision in Lidl Great Britain Ltd v Closed Circuit Cooling Ltd (t/a 3CL) [2023] EWHC 2243 (TCC), the TCC provided some helpful guidance around the statutory payment provisions in the ...

Hotelbeds UK Ltd operates as a wholesale supplier of hotel accommodation, purchasing rooms from UK VAT-registered hotels and reselling them to travel businesses. Due to industry practice, Hotelbeds ...

Jun. 14 – To clarify issues that occur when foreign-trade enterprises apply for export tax refunds using special value-added tax (VAT) invoices which have been approved as input VAT creditable, the ...

Invoice timing: Taxpayers should also ensure that all VAT invoices are issued in a timely manner. VAT invoices must be issued by taxpayers within 15 days of the end of the month in which the goods or ...