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This is a page for the tag 2016
The right to deduct VAT with a duplicate invoice depends on the reason to issue
The moment at which the payment of duplicate invoices is made is determined by whether a business has received the original sales invoice and the invoice has been recorded in its accounts. Taxpayers still had doubts when they could deduct VAT from duplicate invoices. There are two possible solutions.
No more adjustment of tax-deductible costs in case of default in payment
The Act amending the Tax Act of 5 August 2015 and some other acts repeals Article 15b CIT Act and Article 24d PIT Act with effect from 1 January 2016.
Organising a company event which has tax consequences
Any companies which organises a company event can offset the expenses occurred under certain conditions for tax purposes. By contrast, an employee who participates in a business celebration or event should not receive any monetary benefit, which would then be taxable.
In certain cases, it is possible to cancel an invoice
The issuer of an invoice document, the bill which has not yet left the business, i.e. has not been received by the recipient of the invoice can be cancelled, providing that the transaction for which it was issued has not been effected.
The new transfer pricing documentation requirements for transactions between affiliates
With reference to the rule changes regarding the drawing up of transfer pricing documentation, the responsibility to submit transfer pricing documentation to the tax authority when required, and to create a declaration or a simplified report, will only relate to entities that record revenue or costs of a identified level.
The taxation structure associated with wind farms
If a property, which is erected with the buildings for wind turbines (the foundations, masts, street and square paving, outer wall, fencing, pipelines), is owned by farmers, and this land was leased for 25 years by the wind farm developer, the parties that pay tax on the land are the... Read More →
