Providing you with informed commentary on current developments in the local tax and business arena.
Our monthly analysis and comments on new law and administrative changes assist business executives to identify developments and trends in law and Inland Revenue practice that might impact their business.
Tax Alert: Update on Economic Stimulus and Relief Measures to mitigate the impact of COVID-19
On 1 April 2020 the Minister of Finance, Honourable Iipumbu Shiimi announced the first phase of the Economic Stimulus and Relief package aimed at alleviating the nega-tive impact of the current COVID-19 pandemic.
Herewith, an update on the progress made to absorb the pressure on sectors directly affected by the lockdown, including households and the labour market that have been negatively impacted. We further highlight additional measures that the Government has proposed that are under consultation.
Understanding Income Tax Administration
Procedures and rules are set in place to ensure that things are simply done in the right way. This is applied throughout various organisations and is a vital aspect in ensuring order and consistency in today's world. As the former British soldier, Harry Day said “rules are for the obedience of fools and the guidance of wise men”.
The above can also be applied to the administrative responsibilities of taxpayers. It is of vital importance for a taxpayer to acquaint themselves with tax administration filing requirements, assessment procedures, objection processes and steps to appeal.
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