Are your company officers personally liable for VAT and GST shortcomings? Increasingly, the answer is yes

“Tax authorities, globally, are increasing their use of technology to identify risks and are applying financial and other penalties to errors, omissions, and fraud.

These penalties are not just levied on corporations. Company officers may also be held personally liable for shortcomings in VAT and GST reporting, even if they are not responsible for day-to-day compliance. In fact, the majority of VAT and GST jurisdictions have adopted this approach

Source: globaltaxnews.ey.com

---

---