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Expenses paid to 'unidentifiable' parties
Business, Lawalliance Limited Company, Published on 23/02/2016
» All business enterprises from time to time may encounter a situation in which they make payments to a recipient, but its identity cannot be proved to the satisfaction of tax authorities. We are not talking about a payment made in a sham transaction simply to receive a tax deduction but a payment that completely fulfils the cardinal rules such as those made on an arm's-length basis and exclusively spent for business purposes.
Fighting against VAT double trouble
Business, Lawalliance Limited Company, Published on 29/07/2014
» Businesses could regularly face tax difficulties if a tax regulator ignores what has been the core purpose, or the so-called “spirit of law”, and adhere too much to the physical wording of legislation.