The director receives interest income and must it include to his personal income tax filing?

by panwa group | Oct 19, 2021 | 5.QA

The company borrowed loan from the Company’s director for the expenses of company setting-up and build property which the Company paid the interest to the director and withhold the tax at 15%. Please advise that the Company’s director have the right to choose  not to...

For VAT, can it be paid in one time together with the withholding tax?

by panwa group | Oct 19, 2021 | 5.QA

Can the company pay the VAT together with the withholding tax in 1 pay – in slip? Panwa: Under the new system of RD E-filling, you can pay the VAT together with the withholding tax. Anyways, if you need further assistance for monthly tax filing, half-year tax filing...

How to calculate tax for business of importing electronic devices?

by panwa group | Oct 19, 2021 | 5.QA

What basis does the import of electronic devices have for tax calculation? Panwa : An importer is liable to VAT under Section 82(2) of the Revenue Code. The tax base for all types of imports is the value of imported goods by using the C.I.F. price of the product plus...

For one purchase order if the items are listed separately, will WHT 3% still apply for the parts?

by panwa group | Oct 19, 2021 | 5.QA

We would like you to clarify, if a customer puts in 1 PO, but services and parts are listed as separate items, does the 3% WHT still apply for the parts? Panwa:   Please see the clarification as below: Deduction of withholding tax shall be considered to the kind of...

For the withholding tax of repair service, how could we deduct for WHT?

by panwa group | Oct 19, 2021 | 5.QA

For the case Repair (Part & Service) customer PO was Total in 1 transaction not like our quotation has 3 transactions. So Can I issue a Tax invoice with WHT 3% not separate? Panwa: In case if the quotation was issued under service/repair, it shall be considered...