One sad reality about tax interest is that it can exceed the principal debt and make a taxpayer insolvent. Over...

Capital costs are rarely used to  reduce taxable profits as they are incurred towards assets or Balance Sheet items. However,...

At times helping the needy through donations does not only contribute to the good welfare of the society but it...

PAYE on staff loans used to be determined using the prime lending rate which was issued by the Bank of...

More often than not, the general misconception amongst the transacting public is that an organisation that is established for the...

Tax authorities around the word serve notices on taxpayers and these notices act as a reminder of outstanding obligations or...

Generally, trusts are created to protect income generating assets or to ensure that property or assets are managed for the...

Most businesses which are VAT-exempt believe that they must never submit any VAT returns to BURS. That sounds reasonable until...

Generally, outstanding tax liabilities attract penalties and interest which further inflate the tax obligation. The taxman, being the authorised tax...

The VAT rate for cooking oil and liquid petroleum gas (or gas) will be chargeable to VAT at the rate...