Sales Tax on Services
|
|
- Pierce Parker
- 8 years ago
- Views:
Transcription
1 KPMG Taseer Hadi & Co. Chartered Accountants Sales Tax on Services Provincial Budgets SALES TAX 18 June 2014
2 Contents Page No. Sindh Sales Tax - Significant Amendments - New Services brought to tax 2 4 Punjab Sales Tax - Significant Amendments - New Services brought to tax 6 7 This Memorandum contains a summary of changes proposed in the Sindh Sales Tax Act and the Punjab Sales Tax Act through the Finance Bill for The Memorandum contains the comments, which represent our interpretation of the legislation, and we recommend that while considering their application to any particular case, reference be made to the specific wordings of the relevant statutes. 1
3 Sindh Sales Tax Significant Amendments Reduction in Standard Rate Standard rate of Sales Tax is proposed to be reduced from 16% to 15%. However existing rate of 19.5% on telecommunication services to be continued. Tax rate on certain services increased from 4% to 5% Sales Tax on services of legal practitioners, consultants, accountants & auditors, tax consultants and construction contractors is proposed to be increased from 4% to 5%. Companies to file audit reports It is proposed that the companies will be required to submit a printed copy of the annual audited accounts to the Assistant Commissioner, Sindh Revenue Board within 60 days of the date of audit report. Rate of penalty enhanced Rates of penalty for non-maintenance of records, failure to comply with SRB s notifications/rules, etc. are proposed to be enhanced from Rs.5,000 to Rs.10,000 and from 3% to 5%. Appeal fee enhanced Appeal fee for filing of appeal to the Commissioner (Appeals) is proposed to be enhanced from Rs.1,000 to Rs.2,000 for companies and from Rs.200 to Rs.1,000 for non-corporate persons. Qualification of Judicial Member It is proposed that a Judge of Sindh High Court or District & Session Judge having at least 2 years of service as District & Session Judge can be appointed as Judicial Member of the Appellate Tribunal. It may however be noted that Appellant Tribunal has not yet been constituted by the Government of Sindh. Undecided appeals by the Commissioner (Appeals) The Bill proposes to substitute Sections 59(7) & 59(8), whereby the Commissioner (Appeals) is proposed to be authorized to transfer the undecided appeals to the Appellate Tribunal attaching a report explaining the circumstances and reasons for not deciding the appeal within the prescribed time limit. The Commissioner (Appeals) would need to intimate the appellant as well as Chairman, SRB. This is a very significant proposal in line with the PRA s sales tax laws. However, this may deprive the appellant from the benefit of one appeal forum. SRB s power enhanced SRB is to be empowered to make rules, assign liability to pay tax, allow input tax adjustments or exempt the levies of default surcharge & penalty without approval of the Government of Sindh. Accordingly, amendments are proposed in Sections 3(4), 9(3), 15, 45 and 72 of Sindh Act. Records maintainable in Sindhi Statutory records can also be maintained in Sindhi. Presently, the records can be maintained in either English or Urdu. 2
4 Sindh Sales Tax Significant Amendments Withholding Rules The amendments are also proposed in the Sindh Sales Tax Special Procedure (Withholding) Rules, 2011, whereby the service recipient who is either non- resident in Sindh and/or not having a place of business in Sindh would not be required to deduct and pay withholding sales tax. The payment of such tax would be the responsibility of recipient of services within the Province of Sindh. Exemptions withdrawn Various services defined The new services brought to tax net are proposed to be defined, which inter-alia include maintenance or cleaning services, labour and manpower supply services, real estate, recruiting agent, securities, share transfer agent, technical, scientific & engineering consultants, transportation or carriage of goods, technical testing and analysis, registrar to an issue, interior decorator, hospital & clinics, education services, etc. The premium for life insurance and health insurance are no longer be exempt from Sindh Sales Tax, except where the premium on personal / individual life insurance is upto Rs. 500,000. Thus, premiums exceeding this threshold would attract Sindh Sales Tax at the rate of 15%. Exemption allowed to the property developers or promoters on construction services ( ) is proposed to be withdrawn. Conditions of exemption revised Beauty parlours / clinics having annual turnover of Rs. 3.6 million are exempt. This exemption will be subject to further conditions to be notified by SRB. Internet and broadband services valued at less than Rs.1,500 per subscriber per month are exempt. The condition of upto 2 MBPS shall be added to the existing threshold. 3
5 New Services brought to tax 1. Following services are proposed to attract Sindh Sales Tax at 15% Services provided by tour operators excluding Hajj & Umrah tour package. Manpower recruiting agents. Share transfer agents. Purchase or sale or hire of immoveable property. laundries and dry cleaners (taxable if these located in hotels, clubs and guest houses; or are franchisers or franchisees; or are having branches or more than one outlet). Interior decorators. Call centres. Medical and dental practitioners and consultants. Technical testing and analysis service. Services provided or rendered or rendered by a registrar to an issue. Workshops for electric or electronic equipments or appliances, etc., including computer hardware excluding small workshops having annual turnover not exceeding Rs. 3.6 million. 2. Following services are proposed to attract Sindh Sales Tax at 10% Services provided by property dealers. Services provided by car or automobile dealers. Services provided by technical, scientific and engineering consultants. Rent-a-car and automobile rental services. Cable TV operators excluding cable TV operators having PEMRA s R category license. Fumigation services excluding public health fumigation services provided by the Federal, Provincial or Local Governments and Cantonment Boards and agricultural services. Maintenance and cleaning services excluding maintenance and cleaning of private residential houses or apartments or if not out-sourced. Janitorial services excluding those not outsourced by the owner. Programme producers and production houses. fashion designers. Car/automobile washing or similar service stations excluding car / automobile washing or similar service stations, having turnover less than Rs. 3.6 million in a financial year. 4
6 New Services brought to tax 3. Following services are proposed to attract Sindh Sales Tax at 5% pathological laboratories. medical diagnostic laboratories including clinical and radiological laboratories, X-Rays, ultra-sound, CT Scan, MR Imaging, etc. corporate law consultants. hospitals and clinics excluding those where fee / changes does not exceed the prescribed thresholds. persons engaged in inter-city transportation or carriage of goods by road or through pipeline or conduit. Advertisement in newspapers and periodicals. Education services if the monthly, trimester, semester, and annual fee based on courses / subject fees exceed the following thresholds: Period Fee per subject / courses Fee per total subjects / courses Per month basis 2,000 5,000 Per trimester basis 6,000 15,000 Per semester or 4 months basis Per semester exceeding 4 months 8,000 20,000 12,000 35,000 Annual fee 24,000 60,000 However, above exemption may not apply on education services provided or rendered in air-conditioned areas like classrooms, lecture rooms, coaching rooms, seminar rooms / halls or hotels or motels and the institution which is franchiser or a franchisee. 5
7 Punjab Sales Tax Significant Amendments No change in existing rate of 16% Standard rate of Punjab Sales Tax continues to be 16% on taxable services listed in Second Schedule to Punjab Sales Tax [PST] on Services Act, 2012 [Punjab Act]. Recovery of tax within 5 years Time limitation of 3 years for recovery of tax not levied or short levied is proposed to be enhanced to 5 years under Section 52 of Punjab Act. Powers of civil court assigned to PRA A new sub-section is proposed to be inserted in Section 70 to empower Punjab Revenue Authority or its officers to exercise powers of civil court in pursuit of recovery of tax arrears in view of the provisions of Code of Civil Procedure, Penalty for non-registration enhanced Exemption threshold for construction services The Bill seeks to add the words per annum to clarify exemption threshold applicable for construction services under Second Schedule, which means that the threshold of Rs 50 million for construction projects is to be taken on overall projects during a financial year. Financial Services Owing to dispute with regard to the scope of financial services, entry relating to financial services is proposed to be substituted in order to bring clarity. The proposed amendment would now be: Services provided by banking companies, cooperative financing societies, modarabas, musharikas, ijarahs, leasing companies, nonbanking financial institutions and other persons, businesses or enterprises providing or dealing in any such services. Penalty for not obtaining registration is proposed to be enhanced from Rs.10,000 to Rs.50,000, which would hence be Rs. 50,000 or 5% of the tax involved, whichever is higher. Scope of franchise services enhanced The Bill seeks to enhance the scope of taxation under the head franchise services to cover intellectual property rights services. This would likely enhance the scope of franchise services on copyrights, patents, etc. and may have a substantial impact on taxpayers. 6
8 New Services brought to tax Following services are proposed to attract Punjab Sales Tax at 16% Services provided by specialized workshops or undertakings (auto workshops; workshops for industrial machinery, construction and earth moving machinery or other special purpose machinery etc.; workshops for electric or electronic equipment or appliances etc. including computer hardware; car washing or similar service stations and other workshops) Services provided for specified purposes including fumigation services, maintenance and repair (including building and equipment maintenance and repair including after sale services) or cleaning services, janitorial services, dredging or desilting services and other similar services etc. Brokerage (other than stock) and indenting services including commission agents, underwriters and auctioneers Services provided by laboratories other than services related to technological or diagnostic services for patients Services provided in specified fields such as healthcare, gym, physical fitness, indoor sports, games and body or sauna massage etc. Services provided by laundries and dry cleaners Services provided by cable TV operators Scope of services proposed to be extended in existing entries of Second Schedule, also to attract Punjab Sales Tax at 16% Race clubs Cargo services by road passenger transportation business and transportation through pipe line and conduit services Cafes, food (including ice-cream) parlors, coffee houses, coffee shops, degas, food huts, eateries, resorts and similar cooked, prepared or ready-to-eat food service outlets etc. Intellectual property rights services Investment management services Technical inspection and certification services, quality control (standards' certification), technical analysis and testing, erection, commissioning and installation services. Other consultants including but not limited to human resource and personnel development services, exhibition or convention services, event management services, valuation services (including competency and eligibility testing services), market research services and credit rating services. Travel agents including all their allied services or facilities (other than Hajj and Umrah) Labor and manpower supplies. Services provided by TV or radio program producers or production houses 7
9 New Services brought to tax Services provided by depository agents including services provided through manual or electronic book-entry system used to record and maintain securities and to register the transfer of shares, securities and derivatives. Services by Realtors Services provided by fashion designers whether relating to textile, leather, jeweler or other product regimes including allied services such as cutting, stitching, printing, manufacturing, fabrication, assembly, embellishment, adornments, display (including marketing, packing and delivery etc.) Services by automobile dealers Industrial and commercial packaging services and similar outsourcing of industrial or commercial processes Modarabas, Musharikas, Ijarahs, leasing companies, etc. Services listed below would attract Punjab Sales tax at the following rates: Call centres Advertisements (including classified ads) in newspapers, magazines, journals and periodicals 19.5% 5% 8
10 Offices in Pakistan Karachi Office Sheikh Sultan Trust Building Beaumont Road Karachi Phone +92 (21) Fax +92 (21) Lahore Office 2 nd Floor, Servis House 2-Main Gulberg, Jail Road Lahore Phone +92 (42) Fax +92 (42) pk-fmlahore@kpmg.com Islamabad Office Sixth Floor, State Life Building Blue Area Islamabad Phone +92 (51) Fax +92 (51) pk-fmislamabad@kpmg.com KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ( KPMG International ), a Swiss entity. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks or trademarks of KPMG International Cooperative ( KPMG International ).
SECOND SCHEDULE (Taxable Services) (see section 3)
SECOND SCHEDULE (Taxable Services) (see section 3) S. No. Description Classification Rate of Tax (1) (2) (3) (4) Services provided by hotels, motels, guest houses, marriage halls lawns (by whatever name
More informationSINDH SALES TAX ON SERVICES ACT, 2011 SECOND SCHEDULE (Taxable Services) [see Sections 3 & 8 and general] Part A. Description
1 [Tariff Heading SINDH SALES TAX ON SERVICES ACT, 2011 SECOND SCHEDULE (Taxable Services) [see Sections 3 & 8 and general] (As of 1 st November, 2015) Part A Description Rate of tax (1) (2) (3)] 98.12
More informationKPMG Taseer Hadi & Co. Chartered Accountants. Sales Tax on Services 2015-16
KPMG Taseer Hadi & Co. Chartered Accountants Sales Tax on Services 2015-16 SALES TAX 15 JUNE 2015 Con tents Highlight 1 Sindh Sales Tax on Services Significant Amendments New Services brought to tax Scope
More informationThe ISLAMABAD CAPITAL TERRITORY (TAX ON SERVICES) ORDINANCE, 2001
(As amended up to 1 st July, 2015) The ISLAMABAD CAPITAL TERRITORY (TAX ON SERVICES) ORDINANCE, 2001 (ORDINANCE NO. XLII OF 2001) Updated By Ghulam Sarwar Shah, Secretary, IR Policy Wing, Federal Board
More informationA BILL to levy, alter and rationalize certain taxes, fees and duties in the Punjab.
A BILL to levy, alter and rationalize certain taxes, fees and duties in the Punjab. It is necessary in public interest to levy, alter and rationalize certain taxes, fees and duties in the Punjab; and,
More informationEXPLANATORY NOTES - SERVICE TAX. The following changes are being proposed in the Finance Bill, 2006. [refer clause 68 of the Finance Bill, 2006]
EXPLANATORY NOTES - SERVICE TAX The following changes are being proposed in the Finance Bill, 2006. [refer clause 68 of the Finance Bill, 2006] (I) Rate of service tax The rate of service tax is being
More informationSECOND SCHEDULE (Taxable Services)
SECOND SCHEDULE (Taxable Services) (see section 3) S. No. Description Classification Rate of Tax (1) (2) (3) (4) 1 2 3 Services provided by hotels, motels, guest houses, marriage halls lawns (by whatever
More informationTITLE: EXAMPLES OF RETAIL SALES AND NUMBER: ES.A.10.3 SERVICE ESTABLISHMENTS SEE ALSO: ES.A.10.1 ES.A.10.2 CHAPTER: RCW 49.46.130(3) ISSUED: 1/2/2002
ADMINISTRATIVE POLICY STATE OF WASHINGTON DEPARTMENT OF LABOR AND INDUSTRIES EMPLOYMENT STANDARDS TITLE: EXAMPLES OF RETAIL SALES AND NUMBER: ES.A.10.3 SERVICE ESTABLISHMENTS SEE ALSO: ES.A.10.1 ES.A.10.2
More informationGeneral Concepts of Federal Excise and Sales Tax On Services in Pakistan Handout PDP 2013
The Federal Excise Act, 2005/ Provincial Ordinances The Sales Tax Act, 1990- Section 2(20) Output tax, in relation to a registered person, means- OUTPUT TAX (a) tax levied under this Act on a supply of
More informationTAXATION OF INCOME FROM SALARY TAX YEAR 2015 (July 01, 14 TO June 30, 15)
CIRCULAR NO. 18 OF (INCOME TAX) TAXATION OF INCOME FROM SALARY TAX YEAR 2015 (July 01, 14 TO June 30, 15) The Circular on taxation of Income Salary is being updated as under:- The Computation of Tax of
More informationGuide to Japanese Taxes
Guide to Japanese Taxes CONTENTS 1. Introduction --------------------------------------------------------------------------------------------- 1 (1) Principle of Taxation under the Law (2) Self-Assessment
More informationTAXATION OF INCOME FROM SALARY TAX YEAR 2012. (1 st July 11-30 th June 12)
. (1 st July 11-30 th June 12) The Computation of Tax of a Salaried Person has been defined under section 12, 13 and 14 of the Income Tax Ordinance, 2001 read with rules 2 to 7 of the Income Tax Rules,
More informationMacau SAR Tax Profile
Macau SAR Tax Profile Produced in conjunction with the KPMG Asia Pacific Tax Centre Updated: June 2015 Contents 1 Corporate Income Tax 1 2 Income Tax Treaties for the Avoidance of Double Taxation 5 3 Indirect
More informationShekha & Mufti is an independent member firm of Moore Stephens International Limited, members in principal cities throughout the world.
Sales Tax Brief 2015 Covering SROs issued after enactment of Finance Bills 2015 Under Sales Tax Act 1990, Federal Excise Act 2005 & Sindh Sales Tax on Services Act 2011 Shekha & Mufti is an independent
More informationGOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE D.O.F.NO.334/4/2006-TRU
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE R. SEKAR Joint Secretary (TRU) Tel : 23093027 Fax : 23093037 e-mail: jstru.sekar@gmail.com D.O.F.NO.334/4/2006-TRU NEW DELHI, the 28 th February,
More informationCosta Rica. Key messages Extended business travelers are likely to be taxed on employment income relating to their Costa Rican work days.
Costa Rica Introduction A person s liability to Costa Rican income tax is determined by the territoriality principle, in opposition to the method of taxation based on residence status. However, residents
More informationPlace of Provision of Service Rules
Place of Provision of Service Rules October 2012 Pratik Jain Partner, KPMG Framework Statutory provisions Section 66C read with section 94(2)(hhh) of Finance Act, 1994 Replacing Rules under erstwhile regime
More informationGLOBAL INDIRECT TAX. South Korea. Country VAT/GST Essentials. kpmg.com TAX
GLOBAL INDIRECT TAX South Korea Country VAT/GST Essentials kpmg.com TAX b South Korea: Country VAT/GST Essentials South Korea: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable
More informationList of Services - 2007 Survey
000 Basic Sales Tax Rate List of Services - 2007 Survey Agricultural Services 001 Soil prep., custom baling, other ag. services 002 Veterinary services (both large and small animal) 003 Horse boarding
More informationThe levy of VAT is administered by the Goa Value Added Tax Act, 2005 and the rules made thereunder.
Frequently Asked Questions 1. What is VAT? VAT is the short form of Value Added Tax. VAT is the tax that has replaced the earlier levy of Sales Tax. Under the earlier first point system of levy of tax,
More informationFederation of Tax Administrators Survey of Services Current NC law
Federation of Tax Administrators Survey of Services Current NC law Other States Agricultural Services 1 Soil prep., custom baling, other ag. services E 4 2 Veterinary services (both large and small animal)
More informationSub-Group 903-13, Professional & Business Offices Industry Sector 9: Optional Coverage
Sub-Group 903-13, Professional & Business Offices Industry Sector 9: Optional Coverage Rate Risk Category 15% Coverage for registered charitable or non-profit organizations engaged in a mandatory activity
More informationPRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY S. No. Field Name Instructions II Number of business Enter the number of business undertaken by the company. II Main code Based on the number of business undertaken,
More informationAccount Codes in Service Tax (Major Head 0044)
Account Codes in Service Tax (Major Head 0044) 1 ADV ADVERTISING AGENCY 00440013 00440016 2 ADS ADVERTISING SPACE OR TIME 00440354 00440355 3 ATS AIR TRANSPORT OF PASSENGER 00440362 00440363 4 AIR AIR
More information1. Introduction... 2. 2. Business profit tax... 3. Resident airlines... 3. Non-resident airlines... 3
Contents 1. Introduction... 2 2. Business profit tax... 3 Resident airlines... 3 Non-resident airlines... 3 Tax computation and return filing requirements... 6 3. Withholding tax... 9 4. Goods and services
More informationGLOBAL INDIRECT TAX. India. Country VAT/GST Essentials. kpmg.com VAT
GLOBAL INDIRECT TAX India Country VAT/GST Essentials kpmg.com VAT b India: Country VAT/GST Essentials India: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT? 2 What
More informationSub-Group 903-13, Professional & Business Offices Industry Sector 9: Optional Coverage
Sub-Group 903-13, Professional & Business Offices Industry Sector 9: Optional Coverage Rate Risk Category 15% Coverage for registered charitable or non-profit organizations engaged in a mandatory activity
More informationState Tax Chart Results
Tax Chart Results Tax Type: Sales/Use Advertising Services This chart shows whether or not the state taxes advertising services. Advertising MI Not taxable When an advertising agency goes beyond the rendering
More informationPhone No. 051-9205075 Ext. 385, 377,236,243,241 & 298
E-Mail Address: fpsc@fpsc.gov.pk For On-line guidelines: 051-9219851 Phone No. 051-9205075 Ext. 385, 377,236,243,241 & 298 Islamabad, Thursday the 31 st December, 2015 Consolidated Advertisement No. 1/2016
More informationRevision of Consumption Taxation on Cross-border Supplies of Services
For foreign es Revision of Consumption Taxation on Cross-border Supplies of Services National Tax Agency, May 2015 In accordance with the Act for Partial Revision of the Income Tax Act and Other Acts (Act
More informationCHAPTER 57-34 TELECOMMUNICATIONS CARRIERS TAXATION
CHAPTER 57-34 TELECOMMUNICATIONS CARRIERS TAXATION 57-34-01. Definitions. The definitions in this section may not be construed to subject a telecommunications carrier or telecommunications service to the
More informationREPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE REVENUE MEMORANDUM CIRCULAR NO. 72-2004
REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE November 16, 2004 REVENUE MEMORANDUM CIRCULAR NO. 72-2004 SUBJECT : Clarification of Issues on the Additional Transactions Subject
More informationHEALTH INSURANCE PREMIUMS ACT
Province of Alberta HEALTH INSURANCE PREMIUMS ACT Revised Statutes of Alberta 2000 Current as of April 1, 2014 Office Consolidation Published by Alberta Queen s Printer Alberta Queen s Printer 7 th Floor,
More informationSENATE BILL No. 372 page 2
SENATE BILL No. 372 AN ACT relating to sales taxation; concerning the sourcing of mobile telecommunications services; amending K.S.A. 2001 Supp. 79-3603 and repealing the existing section; also repealing
More informationTABLE OF CONTENTS. Taxpayers Rights and Obligations 1 Filing Due Dates 2
TABLE OF CONTENTS Page No. Taxpayers Rights and Obligations 1 Filing Due Dates 2 Item No. Answers to Frequently Asked Questions Definition of Business Tax 4 1 Who Should Pay 5 2 Exemptions 5 3 Business
More informationORDINANCE NO. 1130. Ordinance No. 1130 - Page 1 of 7. Language to be added is underlined. Language to be deleted is struck through.
ORDINANCE NO. 1130 AN ORDINANCE OF THE CITY OF OKEECHOBEE, FLORIDA, PROVIDING FOR AMENDMENTS TO PART II OF THE CODE OF ORDINANCES, SUBPART B-LAND DEVELOPMENT REGULATIONS; PROVIDING FOR AMENDMENTS CHAPTER
More informationIndividual Tax Return Checklist 2015
Individual Tax Return Checklist 2015 This checklist has been prepared by Rose Guerin Chartered Accountants to assist clients to prepare for their 2015 individual tax return. Personal Details Client One
More informationCHAPTER-II TAX AUTHORITIES AND APPELLATE TRIBUNAL
CHAPTER-II TAX AUTHORITIES AND APPELLATE TRIBUNAL 3. Delegation of powers by the Commissioner. Subject to the provisions of the Act and rules made there under, the Commissioner may, by notification in
More informationCONTENTS CONTENTS STATUTORY MANPOWER & PAYROLL RETURN GUIDANCE NOTES. Introduction... 4. What is an establishment?... 5
CONTENTS STATUTORY MANPOWER & PAYROLL RETURN GUIDANCE NOTES CONTENTS Introduction............................................ 4 What is an establishment?............................... 5 Engineering construction
More informationGeneral Transitional Rules for the Re-implementation of the Provincial Sales Tax Provincial Sales Tax Act
Provincial Sales Tax (PST) Notice Notice 2012-010 Issued: October 15, 2012 Revised: February 18, 2013 General Transitional Rules for the Re-implementation of the Provincial Sales Tax Provincial Sales Tax
More informationReal Estate. Office Help and Other Services. Commissions. South Dakota Department of Revenue 445 East Capitol Avenue Pierre, South Dakota 57501
South Dakota Department of Revenue 445 East Capitol Avenue Pierre, South Dakota 57501 Real Estate July 2013 This Tax Facts is designed to explain how sales and use tax applies to Real Estate Brokers' commissions
More informationGLOBAL INDIRECT TAX. Thailand. Country VAT/GST Essentials. kpmg.com TAX
GLOBAL INDIRECT TAX Thailand Country VAT/GST Essentials kpmg.com TAX b Thailand: Country VAT/GST Essentials Thailand: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT?
More informationROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE
ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON HIRE PURCHASE AND CREDIT SALE TABLE OF CONTENTS INTRODUCTION... 1 Overview of Goods and Services Tax (GST)... 1 OVERVIEW GENERAL OPERATIONS OF HP
More informationChapter Four Taxable Services and Contractors
GR-9. Taxable Services Service of, addition to or the service of alteration, cleaning, refinishing, replacement and repair of the following items of tangible personal property are subject to the tax. 1.
More informationCorporation Tax Bulletin 2004-01. Application of P.L. 86-272 and de minimis standards.
Corporation Tax Bulletin 2004-01 Application of P.L. 86-272 and de minimis standards. I. Application of P.L. 86-272 to the Corporate Net Income Tax and Pennsylvania activities. A. Solicitation to sell
More informationTHE CPA LICENSURE EXAMINATION SYLLABUS TAXATION
(632) 407-5937/(632) 415-0873 e-mail: support@reviewer-online.com website: www.reviewer-online.com THE CPA LICENSURE EXAMINATION SYLLABUS TAXATION (50% of Business Law and Taxation) (Effective October
More informationCHAPTER 2014-254. Committee Substitute for Committee Substitute for House Bill No. 1445
CHAPTER 2014-254 Committee Substitute for Committee Substitute for House Bill No. 1445 An act relating to the Citrus County Hospital Board, Citrus County; amending chapter 2011-256, Laws of Florida; authorizing
More informationHome Building Amendment Act 2011 No 52
New South Wales Home Building Amendment Act 2011 No 52 Contents Page 1 Name of Act 2 2 Commencement 2 Schedule 1 Amendment of Home Building Act 1989 No 147 3 Schedule 2 Amendment of Civil Liability Act
More informationSHARE BLOCKS CONTROL ACT NO. 59 OF 1980
SHARE BLOCKS CONTROL ACT NO. 59 OF 1980 [View Regulation] [ASSENTED TO 5 MAY, 1980] [DATE OF COMMENCEMENT: 1 JANUARY, 1981] (Afrikaans text signed by the State President) as amended by Share Blocks Control
More informationZEUS Law Associates COMMISSION AGENT SITUATED ABROAD: SERVICE TAX IMPLICATIONS. Mr. S.K. Kohli, Senior Consultant Amit Chowdhury, Associate.
COMMISSION AGENT SITUATED ABROAD: SERVICE TAX IMPLICATIONS ZEUS Law Associates Mr. S.K. Kohli, Senior Consultant Amit Chowdhury, Associate. INTRODUCTION A new category of taxable service known as business
More informationVALUE ADDED TAX. Frequently Asked Questions
VALUE ADDED TAX Frequently Asked Questions 1. What is VAT? VAT is a multi point levy where the tax paid on local purchases from the registered dealer can be set off against the tax payable on the sale
More informationCircular No.6 of 2013 Income Tax
GOVERNMENT OF PAKISTAN REVENUE DIVISION FEDERAL BOARD OF REVENUE ***** C.No.4 (36) ITP/2013 Islamabad, the 19 July, 2013 Circular No.6 of 2013 Income Tax Subject: FINANCE ACT, 2013 EXPLANATION REGARDING
More informationAS TABLED IN THE HOUSE OF ASSEMBLY
AS TABLED IN THE HOUSE OF ASSEMBLY A BILL entitled INSURANCE AMENDMENT ACT 2014 TABLE OF CONTENTS 1 2 3 4 5 6 7 8 9 10 11 12 13 Citation Inserts section 15A Amends section 17A Amends section 30JA Amends
More informationCUBAN FOREIGN INVESTMENT LEGISLATION
CUBAN FOREIGN INVESTMENT LEGISLATION Decree Law 50 of 1982 ( Decree Law 50 ) was Cuba s first foreign investment act authorizing the formation of international joint-ventures with foreign investors. In
More informationCHAPTER 2004-354. Committee Substitute for Senate Bill No. 3000
CHAPTER 2004-354 Committee Substitute for Senate Bill No. 3000 An act relating to charter schools; amending s. 1002.33, F.S.; revising authorized purposes of charter schools; providing for appeals under
More informationSCHOOL5 offers associate, bachelor's, master's and degree completion programs in nursing at its XX campuses in the United States and online.
09/06/2011 APPORTIONMENT SALES FACTOR Private Letter Ruling: Educational institution providing both classroom and online classes should source tuition for online classes taken by students who are also
More informationALBERTA CORPORATE TAX ACT
Province of Alberta ALBERTA CORPORATE TAX ACT Revised Statutes of Alberta 2000 Current as of December 11, 2015 Office Consolidation Published by Alberta Queen s Printer Alberta Queen s Printer 7 th Floor,
More informationARTICLE 10.00 C-1 COMMERCIAL ZONE
ARTICLE 10.00 C-1 COMMERCIAL ZONE 10.01 PURPOSE The Commercial Zone is intended to provide for the broad range of commercial operations and services required for the proper and convenient functioning of
More informationAudit Division Statistical Study
Audit Division Statistical Study The Audit Division Statistical Study addresses the requirements set forth by IC 6-8.1-14-4 (2). The information is based on 100 percent of the audits completed, taxpayers
More informationIncome Subject to Separate Charge, Final Tax, and Fixed Tax Regimes of Income Tax
Income Subject to Separate Charge, Final Tax, and Fixed Tax Regimes of Income Tax TAXPAYER S FACILITATION GUIDE Brochure IR-IT-05 / Updated April, 2014 Revenue Division Federal Board of Revenue Government
More informationUpdate on Company Law. Hong Kong Arts Administrators Association 10 th March 2014 2:00pm 4:00pm
Update on Company Law Hong Kong Arts Administrators Association 10 th March 2014 2:00pm 4:00pm 1 Introduction Rewrite of the Companies Ordinance was endorsed by the Legislative Council in mid- 2006 The
More informationStructure. Operational arrangements IRRV LEVEL 3 BUSINESS RATES CERTIFICATE. Non Domestic Rates Administration. Aim
Non Domestic Rates Administration Aim To provide a knowledge and understanding of the - administration of the Non Domestic Rates functions for a local authority and the role of the Non Domestic Rates administrator
More informationREGULATIONS FOR MASTER s DEGREE IN BUSINESS ADMINISTRATION (MBA)
REGULATIONS FOR MASTER s DEGREE IN BUSINESS ADMINISTRATION (MBA) General The University shall undertake and supervise the instructions and award Master s Degree in Business Administration. 1. Duration
More informationVAT in Special Transactions
6 VAT in Special Transactions 6.1 VAT and Sales-Tax Incentives Traditionally all the State Governments have been using sales-tax incentives as an important developmental tool particularly, for industrial
More informationMinistry Of Finance VAT Department. VAT Guidance for on the Treatment of Motor Vehicles Version 4: November 1, 2015
Ministry Of Finance VAT Department VAT Guidance for on the Treatment of Motor Vehicles Version 4: November 1, 2015 Introduction This guide is intended to provide those selling or hiring vehicles by way
More informationGuide to Doing Business in Kuwait
Guide to Doing Business in Kuwait Introduction Doing business outside a person s jurisdiction can be challenging without proper guidance. It is therefore imperative for an investor to obtain useful information
More informationTHE PHONE RINGS FROM DOWN SOUTH: WHAT ISSUES SHOULD I CONSIDER FOR EXPANDING MY U.S. FRANCHISE INTO CANADA?
THE PHONE RINGS FROM DOWN SOUTH: WHAT ISSUES SHOULD I CONSIDER FOR EXPANDING MY U.S. FRANCHISE INTO CANADA? By Leonard H. Polsky Gowling Lafleur Henderson LLP Vancouver, British Columbia SYNOPSIS Canadian
More informationREVERSE CHARGE MECHANISM
REVERSE CHARGE MECHANISM Contributed by CA. Amit Hariya INTRODUCTION Service tax, being an indirect tax, was conventionally collected and paid to government by only service providers. However there were
More informationFAQs on Reverse Charge in Service Tax
FAQs on Reverse Charge in Service Tax Reverse Charge in service tax 1 Reverse Charge (Tax Shift) Provisions relating to reverse charge are contained in Notification No. 30/2012-ST dated 20-6-2012. See
More informationPST-57 Issued: March 2000 Revised: March 2016 INFORMATION FOR BUSINESSES PROVIDING REPAIR AND INSTALLATION SERVICES
Information Bulletin PST-57 Issued: March 2000 Revised: March 2016 Was this bulletin useful? THE PROVINCIAL SALES TAX ACT Click here to complete our short READER SURVEY INFORMATION FOR BUSINESSES PROVIDING
More informationLETCHWORTH GARDEN CITY BUSINESS IMPROVEMENT DISTRICT LIMITED REPORT OF THE DIRECTORS AND UNAUDITED FINANCIAL STATEMENTS
REGISTERED NUMBER: 08948560 (England and Wales) LETCHWORTH GARDEN CITY BUSINESS IMPROVEMENT DISTRICT LIMITED REPORT OF THE DIRECTORS AND UNAUDITED FINANCIAL STATEMENTS CONTENTS OF THE FINANCIAL STATEMENTS
More informationInvestment Structures for Real Estate Investment Funds. kpmg.com
Investment Structures for Real Estate Investment Funds kpmg.com Contents Investment Structures for Real Estate Investment Funds 01 Who Are the Investors? 02 In What Assets Will the Fund Invest? 03 Will
More informationPlease read all questions carefully and answer to the best of your knowledge. PLEASE PRINT YOUR ANSWERS, AND SIGN THE APPLICATION IN PART E.
APPLICATION FOR SERVICE1. For Residential and Non-Residential Customers It is important for you to answer the following questions accurately and completely to determine the proper service classification
More informationAnnual Report FY 2014. Courtney M. Kay-Decker Director
Annual Report FY 2014 Courtney M. Kay-Decker Director TABLE of CONTENTS Department of Revenue Organizational Chart... 2 Department Mission, Vision, and Guiding Principles... 3 Department Core Functions...
More information18-1. 18.2.1 Retail or Wholesale In conformity with the provisions of sub-section 18.3. 18.2.2 Art Gallery, Museum or Library In conformity with the
18-1 SECTION 18 - ZONE C-3: SETTLEMENT COMMERCIAL 18.1 Within a Zone C-3, no land shall be used and no building or structure shall be erected or used except for one or more of the listed in Column 1 below.
More informationWashington Unit DECISION ON APPEAL
Citibank (South Dakota), N.A. v. Vermont Department of Taxes, No. 709-11-14 Wncv (Teachout, J., June 30, 2015) [The text of this Vermont trial court opinion is unofficial. It has been reformatted from
More informationMOTOR VEHICLE ACCIDENT CLAIMS ACT
Province of Alberta MOTOR VEHICLE ACCIDENT CLAIMS ACT Revised Statutes of Alberta 2000 Chapter M-22 Current as of April 1, 2015 Office Consolidation Published by Alberta Queen s Printer Alberta Queen s
More informationNAICS Codes - - 251 $164,546,671 236 $52,396,806 195 $28,941,727 190 $6,460,652 165 $33,006,079
NAICS Codes Description: Filters: Date Signed only show values between '10/01/2006' and '09/30/2007', Contracting Agency ID show only ('8900'), Contracting Office ID show only ('00001') 541519 OTHER COMPUTER
More informationCOMPANY, INC. : JUDICIAL DISTRICT OF v. : NEW BRITAIN COMMISSIONER OF REVENUE SERVICES : SEPTEMBER 30, 2002 MEMORANDUM OF DECISION
NO. CV 01 0506140S : SUPERIOR COURT RENAISSANCE MANAGEMENT : TAX SESSION COMPANY, INC. : JUDICIAL DISTRICT OF v. : NEW BRITAIN COMMISSIONER OF REVENUE SERVICES : SEPTEMBER 30, 2002 MEMORANDUM OF DECISION
More informationINFORMATION NOTICE CORPORATION TAXES 2014-0X
INFORMATION NOTICE CORPORATION TAXES 2014-0X Discussion Draft: June 16, 2014 I. PURPOSE For purposes of determining the appropriate net income and capital stock franchise tax apportionment factors, this
More informationAGRICULTURAL PESTS ACT
Province of Alberta AGRICULTURAL PESTS ACT Revised Statutes of Alberta 2000 Current as of November 1, 2014 Office Consolidation Published by Alberta Queen s Printer Alberta Queen s Printer 7 th Floor,
More informationModel disclosure document for franchisee or prospective franchisee
Model disclosure document for franchisee or prospective franchisee The following pages give a recommended format for a disclosure document for a franchisee or prospective franchisee in accordance with
More informationCITY OF UKIAH, CA BUSINESS LICENSE FEE INFORMATION
CALCULATION OF BUSINESS LICENSE RATE BASED ON GROSS RECEIPTS: The business license fee is calculated by dividing your reported gross receipts by $1,000.00 and multiplying the balance by the rate listed
More informationExposure draft TPB Information sheet TPB(I) D22/2014
Exposure draft TPB Information sheet TPB(I) D22/2014 Payroll service providers Tax Practitioners Board Exposure draft The Tax Practitioners Board (TPB) has released this draft information sheet as an Exposure
More informationTax regime and litigation issues
www.pwc.in Tax regime and litigation issues Life Insurance 29 Outline Company taxation Governing tax provisions Issues in litigation Other tax issues Impact of on going litigation Policyholders taxation
More information2011 Legal Update: Virginia Legal Developments of Interest to Assessors
2011 Legal Update: Virginia Legal Developments of Interest to Assessors Andrew H. Herrick Senior Assistant Albemarle County Attorney Overview Passed Legislation Failed Legislation Attorney General s Opinions
More informationSENATE STAFF ANALYSIS AND ECONOMIC IMPACT STATEMENT
SENATE STAFF ANALYSIS AND ECONOMIC IMPACT STATEMENT (This document is based on the provisions contained in the legislation as of the latest date listed below.) BILL: SB 2240 SPONSOR: SUBJECT: Senator Garcia
More informationAdditional Tax, Penalty and Prosecution
Index Additional Tax, Penalty and Prosecution 1. Section 205. Additional tax.-... 462 2. Section 182. Penalty for failure to furnish a return or statement.-... 463 3. Section 183. Penalty for non-payment
More informationIN THE COMMONWEALTH COURT OF PENNSYLVANIA
IN THE COMMONWEALTH COURT OF PENNSYLVANIA Verizon Pennsylvania, Inc., : Petitioner : : No. 266 F.R. 2008 v. : : Argued: May 15, 2013 Commonwealth of Pennsylvania, : Respondent : BEFORE: HONORABLE DAN PELLEGRINI,
More informationDOCUMENT RETENTION AND ARCHIVAL POLICY:
DOCUMENT RETENTION AND ARCHIVAL POLICY: The purpose of this document to present a policy for Palred Technologies Limited and its subsidiaries regarding preservation of its documents in accordance with
More informationChapter 2. Companies Legislations
Chapter 2 Companies Legislations 2.1 The principal legislations in Malaysia are as follows:- Registration of Businesses Act 1956; Partnership Act 1961; The Companies Act, 1965 governs the establishment
More informationTHE PUNJAB HORSE-RACE BETTING TAX ACT, 1958 (IV OF 1958) CONTENTS
THE PUNJAB HORSE-RACE BETTING TAX ACT, 1958 (IV OF 1958) CONTENTS 1. Short title, extent and commencement 2. Definitions 3. Levy of totalizator tax 4. Levy of betting tax 4-A. Power to Government to issue
More informationPetitioner, Associated Business Telephone Systems Corporation ( ABTS ), filed a New York City ( City ) Department of Finance
NEW YORK CITY TAX APPEALS TRIBUNAL ADMINISTRATIVE LAW JUDGE DIVISION : : In the Matter of the Petition : : DETERMINATION of : : TAT(H) 93-1053(UT) ASSOCIATED BUSINESS TELEPHONE : SYSTEMS CORPORATION :
More informationClause 1: Apprenticeship levy. Summary. Background FINANCE BILL 2016 CLAUSES 1-23
Clause 1: Apprenticeship levy 1. This clause sets out that 'Apprenticeship Levy' will be charged, and that the Commissioners of Her Majesty's Revenue & Customs (HMRC) will be responsible for its collection
More informationMINIMUM STANDARDS OF ARCHITECTURAL EDUCATION GUIDELINES FOR POST-GRADUATE PROGRAMME 2006
MINIMUM STANDARDS OF ARCHITECTURAL EDUCATION GUIDELINES FOR POST-GRADUATE PROGRAMME 2006 1. Short title 1.1 These guidelines may be called the Council of Architecture ( Minimum Standards of Architectural
More informationResidential Tenancies Act 1995
Version: 9.5.2015 South Australia Residential Tenancies Act 1995 An Act to regulate the relationship of landlord and tenant under residential tenancy agreements; and for other purposes. Contents Part 1
More informationContents. Application. Summary
NO.: IT-99R5 (Consolidated) DATE: See Bulletin Revisions section SUBJECT: REFERENCE: INCOME TAX ACT Legal and Accounting Fees Paragraph 18(1)(a) (also sections 9 and 239; subsections 13(12), 20(9), and
More informationAsset Management Company in Liechtenstein
Asset Management Company in Liechtenstein I. Services of the asset management company II. Rules of conduct for the asset management company III. Client classification of the asset management company IV.
More informationChapter 693 1999 EDITION. Plumbers. 693.025 Insurance required of certain providers of low-flow showerheads or faucet aerators
Chapter 693 1999 EDITION Plumbers GENERAL PROVISIONS 693.010 Definitions 693.020 Application 693.025 Insurance required of certain providers of low-flow showerheads or faucet aerators LICENSING 693.030
More informationY O U R A N N U A L S E R V I C E C H A R G E E X P L A I N E D
Y O U R E X P L A I N E D 02 Contents What is an annual service charge? 03 How we set up service chargeable accounts 04 Service chargeable items and descriptions 05 Understanding the paperwork 06 Annual
More information