Think about the principal purpose of your commercial transactions to avoid being in the taxman’s crosshairs.
By ROBERT WARUIRU
The difference between tax planning and tax avoidance is the thickness of a prison wall. That is a quote attributed to Denis Healey, a former Chancellor of the Exchequer speaking sometime when aggressive tax avoidance was still fashionable. Tax revenues are central to any government and it is easy to see why tax evasion has taken centre stage today. Sample this: the Rwanda Revenue Authority exceeded its 2016/17 revenue collection target while the Tanzania Revenue Authority marginally missed its target.Read More