As the new year beckons, so, too, do tax changes, with the aim of better-capturing tax payments. Yet, in all the progress in building a more robust tax system, a huge blind spot remains for the majority of our accountants: and that’s the tax on foreign supplies.
In 2022, imports accounted for some $24.4bn, while the country’s entire GDP was $113.2bn - depressed, unfortunately, by a $14bn trade deficit, as our imports, once again, eclipsed our exports.
