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A gross-up clause is also used when a payment that is made will be subject to taxes and the payer makes an additional payment to indemnify the recipient against the taxes – that payment will also be subject to tax. The sequence of additional payment, tax calculation, additional payment continues until the recipient receives the same amount ...
Value Added Tax termed 'Goods and Services and Sales Tax on Luxury Goods' Law ("Undang-undang Pajak Pertambahan Nilai atas Barang dan Jasa dan Pajak Penjualan atas Barang Mewah"/UU PPN and PPn BM): Law No. 8/1983, amended I by Law No. 11/1994, amended II by Law No. 18/2000, amended III by Law No. 42/2009, partially amended by Law No. 7/2021;
www.pajak.go.id The Directorate General of Taxes ( Indonesian : Direktorat Jenderal Pajak ; also known as DJP ) is an Indonesian government agency under Ministry of Finance which has the task of formulating and implementing taxation policies and technical standardization in the field of taxation .
A gross receipts tax or gross excise tax is a tax on the total gross revenues of a company, regardless of their source. A gross receipts tax is often compared to a sales tax ; the difference is that a gross receipts tax is levied upon the seller of goods or services, while a sales tax is nominally levied upon the buyer (although both are ...
For a business, gross income (also gross profit, sales profit, or credit sales) is the difference between revenue and the cost of making a product or providing a service, before deducting overheads, payroll, taxation, and interest payments.
In South Africa, the turnover tax is a simple tax on the gross income of small businesses. Businesses that elect to pay the turnover tax are exempt from VAT . Turnover tax is at a very low rate compared to most taxes but is without any deductions.
One method, the gross method, involves simply recording the full amount of the invoice as a debit to accounts payable and a corresponding credit to cash. If any discounts are given, they are itemized as a separate credit to cash, plus the purchase price. The net method, on the other hand, begins with the purchase price, including any discounts ...
In the insurance industry, gross premiums written is the sum of both direct premiums written (see next paragraph) and assumed premiums written, before deducting ceded reinsurance. Direct premiums written represents the premiums on all policies the company's insurance subsidiaries have issued during the year.