Indirect taxes are charged on goods and services, not on income or profits. These taxes are collected by businesses, such as ...

This setup means companies don’t really pay the VAT — they just help collect it. But, shoppers don’t get this offset, so they’re the ones who truly pay the tax. Here’s an example of how ...

Indirect taxes are effectively a charge, levy or duty that you pay when you purchase certain items or services. You pay indirect tax to the company you are buying through – like a retailer, for ...

The VAT began life in the more developed countries of Europe and Latin America but, over the past 25 years, has been adopted by a vast number of developing and transition countries. A recent IMF study ...

These are the Value Added Tax and Supplementary Duty (Amendment ... likely increasing the daily living expenses of ordinary people. For example, the rise in supplementary duty on mobile phone services ...

For example, VAT on sweets, clothes ... the unexpected increase of VAT and SD is aimed at meeting the target of tax collection during FY2024-25 as set by the International Monetary Fund (IMF).

The rules apply to the methods and conditions for requesting value-added tax (VAT) refunds and the VAT refund procedure for tourists shopping and taking goods outside the country. Normally ...