Suppliers’ tax non-compliance biggest risk to corporate profitability: survey
The trend has been affecting profitability of firms by up to 8%. Non-compliant vendors who do not file their returns are the single most important factor contributing to the hit in profitability across enterprises. Delayed filing by vendors also contributes to the dip in profitability
NEW DELHI: The biggest risks to business profitability at present are materials and service suppliers not complying with tax obligations, a practice that delays about a tenth of all eligible tax credits of businesses, according to a survey.