Understanding the tax regime key to mitigating compliance risks

Regular reviews of product offerings by a company can identify opportunities for VAT optimisation. [iStockphoto]

The government's new plans to raise taxes to fund its operations are in disarray after a court suspended the implementation of the new Finance Act, 2023.

Even as the three-judge bench looks into the civil suit, businesses need to familiarise themselves with various existing regimes and plan accordingly.