On 29 October 2015, the Inland Revenue Authority published Corporate Tax Filing Season 2015: 3 Filing Mistakes Companies Should Avoid. The publication provides an overview of the following common filing mistakes:
- Failure to keep proper records and accounts;
- Wrongful claim of tax deduction on private expenses, or inflated payments to related parties; and
- Wrongful claim of tax deduction under the Productivity and Innovation Credit (PIC) Scheme
The deadline for filing the corporate tax return…