IT IS now mandatory to have the transfer pricing documentation (TPD) to support the arm’s length pricing of transactions undertaken between associated persons of related parties before the due date of filing of the annual tax return of the affected taxpayer. Any...

THE Inland Revenue Board (IRB) has “turned up the heat” on taxpayers who fail to file their annual tax returns. The IRB is no longer willing to wait any more and it is prepared to take such non-compliant taxpayers directly to court and charge the taxpayers, which can...

TAXPAYERS submit voluminous information annually and upon request to the Inland Revenue Board (IRB). This is done through the filing of annual tax returns by taxpayers, employer returns (Forms E and EA), information provided at the point of deducting withholding...