Dealing with a tax assessment issued based on best judgment
Every business owner is required to maintain accounting books and receipts from the first day of operating the business. Bookkeeping depends on the type of business. Bookkeeping rules are found in the Income Tax regulations (bookkeeping). Many business owners and taxpayers find themselves in a situation where they have been assessed a judgment by the […]
Tax offenses – fictitious tax invoices
A tax invoice issued illegally – for a service or sale made under false pretenses – is called a ” fictitious invoice “. Buying a fictitious invoice and reporting it as input means reducing the amount of VAT that the trader must pay, and reducing payments to the Income Tax and the National Insurance Institute, […]