Obligation to report the address of the accounting firm used

As a new requirement of the tax authorities, businesses must report the address of the accounting firm they use if the company’s books are only kept on the computer of the accountant. The National Association of Tax Advisors opines that this new rule contradicts the well-working practice of the last 20 years and puts unnecessary administrative burden on enterprises. What is more, the conditions for reporting the address of the accounting firm aren’t perfectly clear at the moment, which is likely lead to misunderstandings. Still, the tax authorities have the right to fine those companies which fail to meet the reporting obligation.