In any type of transaction, it is usual for two parties to enter into a debtor/creditor relationship and use the legal concept of compensation as a method of payment for their respective debts, making ...

More than half of Britons don’t realise they can claim VAT refunds on EU holiday purchases. Learn how to get hundreds back before you fly home.

The proposal is to have a system that resembles a sales tax by disallowing Vat input claims and to rely solely on the payment ...

MILLIONS of holidaymakers could be missing out on free cash after returning home. It comes as 51% of people are unaware they ...

ITAT Ahmedabad deleted an addition made due to a minor difference between a firm's VAT returns and its books of account. Tribunal ruled that variation was a legitimate bookkeeping consequence of ...