We are almost a couple of months into the Fiscal Year 2024. The Periodic Reports would most certainly take into consideration the expectations of the innovations of the Finance Law 2024 to ensure compliance with the regulations in force.
Helping Companies migrate through the constraints new Laws might pose them has always been our drive as we organize seminars to edify on new laws as was our last seminar on the Major Provisions of the Finance Law 2024 for the Accounting and Finance, Internal Audit and Management Staff of TELCAR Cocoa Ltd on Tuesday 30 January 2024.
Animated by the Managing Partner and Senior Auditors at MFCA and Associates Ltd, and the attendees from TELCAR were engaged in a discussion on the Major tax and custom measures which will contribute to moderating the business climate for the fiscal year 2024.
Some Measures were applauded for their ingenuity towards modernization as is the case with the further digitization of services on the tax authorities’ information system and an extension of the deadlines for the filling of the Statistics and tax returns for CSIPLI/CIME and CDI Taxpayers. Others were rebuked for the impact they will have on the taxpayers as is the case with the innovations in Sections 33 and 34 of the General Tax Code for computing personal income tax on salaries, whose application was suspended pending directives for its application from the Ministry of Finance amidst a host of other measures.
We will continue with our seminar and training series on various corporate sectors such as Internal Audits, the OHADA Uniform Act on Accounting and Financial Reporting (UAAFR), the OHADA Uniform Act on the Accounting System for Not-for-profit Entities (SYSCEBNL) which is now the acceptable Financial Reporting framework for not-for-profit entities as from 1 January 2024 and a host of others.
To the staff of TELCAR, we hope the discussions we engaged in permit you to provide for the necessary adjustments to help you navigate through the Fiscal year 2024 in not just meeting with the fiscal obligations of TELCAR, but that of Natural persons which we all are, ensuring the Company continues as a going concern.