It’s crucial to every accounting and accountant to be up-to-date with all the relevant regulations and obviously the changes thereto as well. 

The way to do it, is to be kept alert if anything new comes out, if anything new has been implemented or is on its way to happen and change. Whichever form your local tax authority is letting this information to be known, is up to them to decide and you to find out and make it work for you. Either this can be in the form of digital or paper newsletters, trainings or pamphlets you can take from their offices – whatever it is, make sure you know how it works and have yourself updated.

From my own experience I can tell you that taxes is something that’s most complicated and scary for both accountants and managers – failure to be compliant can and will most often be severely punished by the authorities. It can also have impact on your business reputation and if this information gets out to your customers, suppliers, there’s no knowing of how this impacts their attitude towards your company and you.