Get your VAT right
Several legal aspects and procedures in Inland Revenue on the collection of tax have changed since the first edition in 2000, the same year VAT was first introduced. She said, VAT being a compulsory, comprehensive tax, addressed flaws in the previous General Sales Tax system. The easy-to-read book is priced at N$250 with only a limited number of copies available. This year, PwC had to publish the guide on their own without the financial assistance of Standard Bank. Since the previous publication, the bank has become a client of the auditing firm, and a potential conflict of interest had to be avoided.
“The first two chapters of the book cover general principles and an overall framework of how VAT works while the rest builds on the technical discussion on VAT implications, revenue, expenditure and a reference section” Husselmann said.
Managing Director of PwC, Nangula Uaandja applauded the PwC team of more than forty employees in Windhoek and Walvis Bay. “The PwC tax practice is well positioned and equipped to advise on tax compliance, tax changes and planning” she said. Uaandja acknowledged that simple rules are interpreted differently by local tax authorities with serious ramifications to companies who rely on their own interpretations.