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,...
Ignoring tax health checks is risky
Businesses evolve especially given the technological advances we see unfolding every day. Accordingly, as the operating environment changes so does...
The 5% Tax on Special Economic Zones
The Minister of Finance and Economic Development conferred a 5 percent corporate tax rate to investors or developers approved as...
Deduct 10% commission, always!
In some instances, business operators engage agents to perform certain assignments that they either lack the time or expertise to...
