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VATTalk
Today FTA released a new VAT Public Clarification on VAT recoverability on Entertainment Services. This 10 page document clears lot of uncertainty over what expense qualifies as entertainment services and what qualifies as incurred in normal course of business. In the coming week, you will see many articles, bulletins and updates from multiple consultancy houses...
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Before I get into the legal provisions and interpretations, I just want to bring to your attention that this article is based on my understanding of law and related guides and every one should take their own discretion before applying. Putting this disclaimer because towards the end of the article, you may find it really...
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Late Good Evening Friends. This article is more of an extempore. Neither planned, nor thoroughly thought. So will need your feedback on same to decide whether I continue writing these kind of articles or I go my usual way of planning, sketching, working, re-working and then coming up with final output. For ease of understanding,...
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