How to account for COVID in financial statements and related notes
Those documents contain professional information about how the crisis must be accounted for into the Financial Statements and the Notes to these financial statement.
Important Changes to VAT Return Penalties
Recent law changes came into effect that will result in significant penalties should you fail to lodge your VAT return on time. From now on, even if you are due a VAT refund or are lodging a nil VAT return, you will be fined VT30,000 (if an individual) or VT50,000 (if an entity) if you lodge your VAT return […]
Recent changes to work permits in Vanuatu
As you may have heard; on 30 November 2018, the Parliament adopted a series of amendments to the law governing work permits. The amended law was subsequently published in the official gazette on 15 January. As such, it has now entered into force and is hence fully applicable. The key amendments which were adopted are […]
Changes to the Partnership Act in Vanuatu
Partnership (Amendment) Act n°26 of 2018, as published in the Official Gazette dated January 9 2019, has made some significant changes to the Partnership Act. In short, partnership is the relation which subsists between persons carrying on a business (ie. every trade, occupation or profession) in common with a view of profit (this definition does […]
