Tax Updates | December 2022

This is to provide updates on certain guidance issued by a number of local tax departments, addressing the following issues:

  • The time to calculate corporate income tax (CIT) on unearned interest on bank deposits
  • CIT deductibility of overtime payments
  • Issuing e-invoices to amend incorrectly issued invoices
  • Determination of related party transactions related to borrowings from banks

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