Will the VAT implementation increase cost of compliance?
Answer: There will be no increase in compliance cost of those who are already registered and operating under sales tax regime and will automatically switchover to VAT. The new taxpayers will however,
have to incur nominal expense on VAT compliance. Due to IT- based VAT processes, VAT compliance cost usually remain low for the taxpayers who discharge their tax obligations regularly on fair lines.
No comments:
Post a Comment