Today went as hectic as any other day at the airport. We arrived early in the morning to get all the VAT done, which brings back the fact that I can’t depend on my siblings much, they had the papers filled with my brother’s passport number and my sister’s name, fortunately though, the staff at the airport were helpful enough to edit the error. 68 more words
Tags » VAT
The Federation Accounts Allocation Committee (FAAC) has shared a total of N769.523 billion to the three tiers of government for the month of July 2019. The N769.523 billion comprised revenue from Value Added Tax (VAT), Exchange Gain and Gross Statutory Revenue. 284 more words
A recent case before the tax tribunal saw the liability for a late VAT registration penalty being passed on to a manager of the company. HMRC have the power to impose such a penalty on an individual where (1) there is a penalty payable by the company for a deliberate failure (2) the individual on whom HMRC seek to impose liability is an “officer” of the company; and (3) the deliberate failure is attributable to that officer.
The Economic Operator Registration and Identification (EORI) scheme was implemented in the EU UK 1 July 2009. You will require an EORI number if you import from or export to countries outside of the EU. 474 more words