David Daly

VAT-registered businesses in the country will need to use this system to raise tax invoices

Blatant tax avoidance can see an organisation's structure reorganised

It is important to understand how depreciation and impairment will affect real estate investments

The Federal Tax Authority portal is laid out logically, a vertical central pillar with a tree of well-spaced topics

It is a useful exercise to revisit profit-and-loss statements to see if contributing elements are optimised

Tax law is quite complex in parts, and it's possible that someone might misunderstand a situation and then innocently report it

Transactions may be challenged if discrepancies in pricing are discovered

Until the last submission with the FTA is made, deregistration will not have happened

The system is new, however, its evolution could be supported by user feedback requesting that useful missing options are added

A trade licensing issuing authority recently set its own reporting period for entities

Penalties, late filing fees and interest on late settlement of taxes may cause consternation among business owners

There is uncertainty about where liability arises with returns that are later found to include errors

The monetary value of any barter deal concluded today can be calculated with a high degree of accuracy thanks to a common medium of exchange

Some companies have received communications that their financial years for corporate tax reporting purposes are changing again

Failure to update documents such as passports and trade licences could lead to penalties, starting end of March