Glossary Terms: I

Showing 10 terms starting with 'I'

Mandatory registration for businesses involved in import/export.

Direct tax on income earned by individuals and entities.

Legal process of forming a company or business entity.

Tax collected by intermediaries on goods or services, like GST.

Credit of GST paid on purchases used to offset output tax.

Financial state where liabilities exceed assets and debts cannot be paid.

Statutory interest charged for delayed tax or invoice payments.

Independent review of internal controls, processes, and risks.

Document that records a sale and the amount payable.

Reversal of input tax credit due to ineligible or proportionate use.

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