The government might need to consider an extension of the value-added tax (VAT) registration deadline, according to an official from a leading local accounting firm.
Managing Director of KRYS Global Edmund Rahming Jr. told Guardian Business that he anticipates the government would have to "accommodate" some businesses that fail to register before the November 30th deadline.
Despite the looming deadline, Rahming is not particularly concerned with the slow registration process, adding that he expects a surge of registration in the final days of registration.
"That's just the way we are, we wait for the last minute to do these things. I think we'll find that the majority of the companies that fall within the threshold will register [but] there may be a need for an extension," said Rahming.
He felt that a lack of information surrounding registration requirements would cause some businesses to miss the critical deadline.
The Ministry of Finance has indicated that all registrants must have their business license fees in good standing before completing the registration process, which might cause delays in the registration process.

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