The Punch on MSN

Tax reforms exempt food, education, agriculture – FIRS

Nigeria’s tax landscape is set for a historic overhaul, as the Federal Inland Revenue Service has explained that the ...
Tax Guru

Only Embedded Profit Element Taxable: ITAT Delhi Restricts Bogus Purchase Addition to 12.5%

Delhi ITAT ruled that where sales are accepted, full purchase disallowance is unjustified. Citing Bombay HC, it restricted the addition for bogus purchases of Rs. 23.5 Cr to 12.5% profit element.
Philstar.com on MSN

VAT cut to 10% could hurt government finances – DOF

Reducing the value-added tax (VAT) rate to 10 percent from 12 percent could cost the government roughly P330 billion annually ...
The Manila Times on MSN

Reducing VAT to 10% may hinder Philippines' fiscal goals, Finance official warns

A PROPOSAL to reduce the value-added tax (VAT) rate to 10 percent from 12 percent could widen the country’s deficit and undermine fiscal consolidation efforts, a senior Finance official cautioned.