Tax Law

What is a PAN in India

What is a PAN in India? PAN (Permanent Account Number) in essence signifies a taxpayer identification number. This is a unique number assigned to all taxpayers in India. The number is allocated by the Indian Tax Department (specifically the Income Tax Department of India) and serves the purpose of taxpayer identification. PAN in India [...]

What is a DIN number in India

What is a DIN in India? DIN (Director Identification Number) is a unique identification number for directors. The Government of India assigns DIN to individuals who are directors of an Indian company or plan to become one. The DIN number in India consists of 8 digits, providing a unique combination that remains unchanged throughout [...]

What is a DSC in India

What is a DSC in India? DSC (Digital Signature Certificate) is a digital key issued by certifying authorities to verify the identity of the certificate holder. In India, DSC serves as the electronic counterpart of a paper certificate validating the identity of its owner (e.g., driver's license, passport). Similar to a paper certificate, an [...]

Worldwide taxation vs territorial taxation

Territorial and worldwide taxation principles Understanding how and where worldwide and territorial taxation principles apply allows business owners to select the most advantageous jurisdiction for their specific goals. When choosing a country for international business, taxation becomes a key consideration. Both of these principles involve the concept of a "resident company." So before delving [...]

What is a TFN in Australia

Summary Tax File Number Australia 28 days Australian Taxation Office (ATO) Understanding TFN TFN stands for Tax File Number. It is a personal identification number used in the Australian taxation and pension systems, assigned by the Australian Taxation Office (ATO). ATO issues TFNs [...]

What is an ABN in Australia and how to get it

Summary Australian Business Number Australia From 1 day to 3 weeks Reduces tax rate Until canceled Australian Business Register (ABR) Understanding ABN ABN (Australian Business Number) is a unique eleven-digit identifier used by businesses registered in Australia for identification purposes with [...]

What is an EIN and how to get it

Summary Employer Identification Number USA IRS (Internal Revenue Service) Starting at 1 day All companies registered in the USA None There is a misconception that obtaining an EIN is voluntary and discretionary. In reality, almost every company established in the United [...]

What is an ITIN and how to get it

Summary Individual Taxpayer Identification Number USA Present Starting at 8 weeks Taxpayers in the USA without the right to obtain an SSN 5 years after issuance (renewable) Individuals who are required to file tax returns in the United States include temporary [...]

Ukrainian VAT Return for Suppliers of Electronic Services

Contents of the E-services VAT Return The E-services VAT Return is a simplified version of a general Ukrainian VAT return. It is bilingual (Ukrainian and English translations are present) and contains the following fields: foreign company's name and TIN (Ukrainian tax authorities assign a TIN to each foreign company upon completion of its registration as [...]

Ukrainian VAT on electronic services

What are the new VAT rules about? Simply put, foreign companies supplying electronic services to individuals / private entrepreneurs in Ukraine in the amount exceeding USD 37,000 (as at Dec 2021) within a calendar year should comply with new tax requirements in Ukraine. How Ukraine defines "electronic services"? Electronic services are the services supplied (1) [...]

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