Revenue Regulations

Revenue Regulations are official rules issued by tax authorities to clarify how tax laws should be applied. They provide detailed guidance on specific transactions, income, deductions, and other tax matters, ensuring consistency and fairness in tax administration. Essentially, they interpret and implement the laws passed by legislative bodies, helping taxpayers and officials understand their rights and obligations. These regulations are enforceable and serve as a key reference to ensure that everyone complies with the tax laws accurately.