The government has revealed its plans to amend the tax law and it seems the changes would not totally affect the income tax law. All taxpayers who claim for value added tax (VAT) deductions will have to file VAT ledger statements that means monitoring in detail transactions reported in VAT returns. Individuals have to submit their first period for VAT ledger statements by January 2016 and companies will have to file their first VAT ledger statements by 25th February 2016.
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