by Ekrem Duman | May 30, 2026 | Finance, VAT & Indirect Tax
⚡ TL;DRIndirect tax extends well beyond VAT. Excise duties target specific goods like fuel, alcohol, and tobacco; customs duties tax imports; and a growing wave of environmental and digital levies adds new layers. For any business that imports, manufactures, or trades...
by Ekrem Duman | May 30, 2026 | Finance, VAT & Indirect Tax
⚡ TL;DRThe reverse charge shifts responsibility for VAT from the supplier to the customer, and place-of-supply rules decide which country’s VAT applies. Together they govern almost all cross-border B2B trade. Misapplying them creates double taxation or...
by Ekrem Duman | May 30, 2026 | Finance, VAT & Indirect Tax
⚡ TL;DRVAT registration is triggered when taxable turnover crosses a statutory threshold, but voluntary registration, group registration, and non-resident registration all change the picture. Getting registration timing right avoids penalties for late registration and...
by Ekrem Duman | May 30, 2026 | Finance, VAT & Indirect Tax
⚡ TL;DRVAT, sales tax, and GST are all consumption taxes, but they collect revenue very differently. VAT and GST are multi-stage with input credits; US-style sales tax is single-stage at retail. The choice affects cascading, compliance burden, and fraud risk. For any...
by Ekrem Duman | May 30, 2026 | Finance, VAT & Indirect Tax
⚡ TL;DRValue-added tax (VAT) is a consumption tax collected in stages along the supply chain. Each business charges output VAT on sales, reclaims input VAT on purchases, and remits the difference. The economic burden falls entirely on the final consumer, while...
