Problematic tax legislation is causing irreparable damage to exporter cash flows and the local economy, as one-sided laws balanced against taxpayers continue to impede growth and deter foreign investors. According to Ernest Lai King, Managing Director of 1 Road Consulting and a consultant at law firms, deficiencies in the country’s Value-Added Tax (VAT) Act regarding VAT audits have resulted in the endless withholding of VAT refunds, violating taxpayers’ constitutional rights to fair administration.
Finalising income tax return verifications is one of three systemic concerns of the Tax Ombud, as illustrated by Fairness for All Case 13, or the taxpayer whom the tax collector verified five times in one year on the same 2021 tax return. Finalising income tax return verifications is one of thr.