The Revenue Division, Ministry of Finance and Economy (MoFE) held a socialisation session on corporate income tax recently to enhance common understanding with regards to scope of taxation among corporate taxpayers in the country.
The session also hoped to create and raise awareness on the obligations and responsibilities towards the compliance of Corporate Income Tax.
During the briefing, an officer from the Revenue Division explained in detail, among others, the basis of tax assessment, compliance on the filing of tax returns and tax computation, in accordance with the Income Tax Act, Chapter 35.
The session is part of MoFE’s efforts to further strengthen and enforce tax compliance and raise awareness about the importance of corporate taxes to the public, especially among taxpayers in the country. – James Kon
