Proper adherence to the Vat code is crucial for any business. While other taxes such as corporation tax are calculated as a percentage of a profit, Vat usually applies to the top line of a business. Not charging/collecting Vat on sales, when it ought to, can lead to large tax bills often representing multiples of a business’ profits and with the potential to seriously affect a business’ solvency. That is what makes a number of recent decisions before the Tax Appeals Commission (TAC) so interesting. The counsellor The TAC was asked to decide, based on the law as it stood…
Cancel at any time. Are you already a member? Log in here.
Want to read the full story?
Unlock this article – and everything else on The Currency – with an annual membership and receive a free Samsonite Upscape suitcase, retailing at €235, delivered to your door.