In some instances, businesses which endeavour to comply with tax laws may struggle to understand the requirements of tax registration....

Generally, if clients fail to conclude business deals, a non-refundable deposit becomes handy to hedge against financial loss, as well...

There are various reasons that may trigger businesses to prepare their financial statements for a period not restricted to the...

Interest on late payment of tax is basically a form of a penalty that seeks to compel taxpayers to pay...

Effective 23 May 2015, the VAT Act (Act) was amended to increase the sales threshold of VAT registration to P1...

The taxman is empowered by tax laws to charge penalties for a number of reasons. We will focus on instances...

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...