The Inland Revenue Authority (IRD) posted additional clarifications on 12 September 2022 to help taxpayers to comply with the new GST Rules.
The new GST changes introduce new terminology as well as a more flexible ruleset. From 1 April 2023, taxpayers no longer need to keep a single document, such as a tax invoice or credit note, with all the required information. Instead, a combination of transaction records, accounting systems and contractual documents can be used to supply the informat…