Mandatory TIMs/e-TIMs compliance; critical implications.
Mandatory onboarding: VAT & non-VAT taxpayers Effective 1st January 2024 All invoices for supporting expenditure for tax purposes must have been generated from electronic invoicing management system e-TIMS. Under Section 15 of the Income Tax, business expenditure provided for deduction in ascertaining the adjusted taxable income for the year must have been incurred wholly & […]