No VAT deregistration in 1st 24months
At times, some business operators are compelled to compulsorily register for Value Added Tax (VAT) in the furtherance of statutory...
Shareholders’ gratuities trigger dividends tax
Most business operators endeavour to embrace tax efficient strategies in order to reduce the cost of doing business and increase...
Request for deposits to avoid VAT squeeze
Basically, cash is considered as the life blood of every business. Essentially, this means that a business needs to be...
VAT due when you forfeit deposits
Some businesses generally require their customers to pay a deposit first before goods or services are provided. More often than...
Landlords can’t charge VAT on utilities
However, more often than not, Value Added Tax (VAT) registered landlords at times end up in a quandary on whether...
VAT still applicable on retentions
Generally, security in most business dealings is of paramount importance to safeguard against poor quality or substandard products. In this...
Of 14%, 12% & 0% VAT post 03.08.22
The Minister of Finance and Economic Development (MOFED), Honourable Peggy Serame recently announced a decrease in the VAT rate from...
Proforma invoices or fee notes trigger VAT
Some businesses tend to issue proforma invoices to a customer after a confirmed deal or sale as a way of...
No VAT claims on private phone calls
Value Added Tax (VAT) is by nature one of the most dicey taxes that requires special attention. We are sure...
Fabricated transactions are tax risky
In some cases, businesses enter into various trade agreements that require legal documents such as contracts, partnership deeds etc. Mostly,...
