When entering into business transactions, it has more than just an accounting implication… what about Income Tax, what about Value-Added Tax?

Even if you are not involved in the Income Tax or VAT calculation, having a simplified understanding of when it is triggered can help you understand your / your business’ responsibilities.

This session serves as an introduction to income tax and value-added tax from the perspective of:
• When does a business transaction trigger current tax / VAT
• How similar is accounting and current tax treatment for the same business transactions
• Who needs to register / who is liable for income tax / VAT
• Income tax / VAT deadlines
• What documentation applies, returns and supporting records
• How the liability is to be paid / financed
• Doing a VAT reconciliation