While the United States imposes a retail sales tax, many countries across the globe impose a value-added tax. VAT is similar to the retail sales tax, but it is imposed at every stage of the production ...

Jun. 14 – To clarify issues that occur when foreign-trade enterprises apply for export tax refunds using special value-added tax (VAT) invoices which have been approved as input VAT creditable, the ...

Invoice timing: Taxpayers should also ensure that all VAT invoices are issued in a timely manner. VAT invoices must be issued by taxpayers within 15 days of the end of the month in which the goods or ...

Manama, Dec. 27 (BNA): The National Bureau for Revenue (NBR) held an interactive workshop on VAT invoices compliance, as part of its commitment to raise VAT payers’ awareness of all VAT related ...