David Daly

The new regulations will be in place from July 1, 2026 and will apply to both business-to-business and business-to- government transactions

Businesses can treat an asset as a one-off expense or it can be capitalised and depreciated over its useful life

An owner or partial shareholder must take note of their status within the operational business

It is important for all those eligible for the tax to keep track of their reporting period

Donations made to such organisations are deductible against taxable profits

It is equally important to ensure all paperwork is compliant with the law

It is important to carefully consider your reporting period selection to ensure compliance with tax regulations

Attention to detail is paramount since slight variations can change the way tax is calculated

Corporate tax is the way of asking people and companies to carry some burden of the costs needed to run a country

It would be a kindness if outsourced accounting firms pressed to ensure that you were aware of the deadlines for tax registration

If an investment vehicle is found to be used solely for tax avoidance, its exemption may be revoked

Forum for taxpayers would provide feedback and clarification for company owners

Freezone entities that choose not to pay corporate tax are still obligated to submit audited accounts