Writing Mistake on Uniform Invoice
2008-11-22 21:03:49
If a business entity sales the goods or services, uniform invoice shall be issued to the buyer within time limit regulated in Value-Added and Non-Value-Added Business Tax Act. In case of mistake of writing, a new invoice must be issued and retrieve t...(more)
Uniform Invoice for Goods/Services Transfer
2008-11-20 21:03:16
If a head company or the branch company purchases goods or services in the name of seller and transfer to other subsidiaries for using or selling, such action must be regarded as sales of goods or services in case the head company and the branch comp...(more)
Uniform Invoice shall not be Supplied for Use by Others
2008-11-15 21:02:41
Tax authority shall have the information of type and beginning/end number of the uniform invoice purchased by all business entities. After the end of period for filing business income tax return, comparison must be conducted to check whether there wi...(more)
Goods or Services Rewarded to Employees
2008-11-14 21:02:01
Input tax of dinner party, entertainment expenses, travelling, birthday gift and marriage and death allowance shall not be deducted from output tax by a business entity. If a business entity has declared such input tax for deduction, it can voluntari...(more)
Uniform Invoice for Individual Expenses shall not be Used for Deduction
2008-11-10 21:00:36
According to Value-Added and Non-Value-Added Business Tax Act, input tax shall not be deducted from output tax by a business entity if the goods or services purchased are not for the use of principal and ancillary business operation. However, purchas...(more)
Business Entity must File Bimonthly Tax Return Whether or not it Has Sales
2008-11-08 20:59:59
Except as otherwise prescribed by Value-Added and Non-Value-Added Business Tax Act, a business entity, whether or not it has sales, shall file a bimonthly tax return on a prescribed form for its sales amount and tax payable or overpaid of the precedi...(more)
Income Tax Withholding While Issuing Post-Dated Check
2008-11-06 20:58:38
If a business entity issues post-dated check to attorney, CPA, other practitioners or landlord and payment date is the same as issuing date, the withholder must withhold income tax while issuing the check. If payment date of the check is different fr...(more)
Uniform Invoice must be Issued for Transfer of Remaining Assets or Goods
2008-11-03 20:58:03
For transfer of remaining assets with or without consideration at closing of a business entity, uniform invoice must be issued to file business income tax. According to Value-Added and Non-Value-Added Business Tax Act, goods produced, imported or pur...(more)
Filling of Annual Income Tax Return
2008-11-02 20:56:54
A taxpayer shall, within the period from May 1 to May 31of each year, fill out and file to the local tax collection authority and annual income return declaring items and amounts that make up his gross consolidated income (for an individual person) o...(more)
Labor Pension and Annuity Insurance
2008-10-30 20:56:00
All those profit-seeking enterprises which are subject to the application of the Labor Standards Act may each year set aside an amount within the limit of no more than 15% of the total salaries and wages paid in that year, as worker retirement reserv...(more)