Accounting

Change In Service Tax Rules as Per Article 54 of Income Tax Code

Change in service tax rules : People have many different tax obligations to which they are bound to come professionals as a proof that they do not feel able to cope. To remedy this situation, therefore, most of them decide to rely on third parties, accountants, tax advisers for the preparation and fulfillment of such obligations simply and ordinarily and often bearing a considerable expense.We will refer to change in service tax rules.

How to prepare a correct invoice professional have proper know how : As a result of the many changes in service tax rules that have affected the self-employment income and VAT transactions carried out by professionals, it is natural that you feel the need to have a reference to the taxation in respect of a regulatory framework structured as follows.

In recent years we have seen a profound change in the service tax rules contained in Article 54 of the Income Tax Code relating to the assessment of the income arising from regular trades and professions as well as on VAT for services rendered by professionals and artists.

Just to mention a few striking examples about changes in service tax rules:

the introduction of the relevant tax on capital gains and losses,
the recognition of the deductibility of the amortization up to a certain date
changing the criteria for deducting expenses of maintenance, renovation and modernization of the same;
the proceeds arising from the disposal of customers or intangible items, however, related to their artistic or professional
the provisions relating to telephone charges,
the provisions relating to expenditure on the means of transport which, among others, have suffered a detrimental change from fiscal year 2013
the particular discipline of the costs of room and board in advance by the client on behalf of the professional,
the introduction of the new system of minimum,
the provisions on intra-Community supplies of services and so on.

The uncertainties resulting from the application framework of VAT and direct taxes for professionals and artists are in fact so many that have made it not only useful but essential to the activation.The update also in terms of viewing this guide online in the matter.
Highlights: POS requirement

From June 30 clients of professional firms will be able to pay amounts in excess of 30 via the POS terminal. Circular 12/2014 Foundation Studies Labour Consultants examines the changes made by the legislation, illustrating the types of Pos and costs installation, but at the same time making note that the lack of a penalty for failure to hold the device does not imply an obligation for professionals.

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