Compliance
CoralLedger Comply helps you maintain VAT compliance with real-time monitoring and alerts.
Why Compliance Matters
Non-compliance with Bahamas VAT regulations can result in:
- Penalties - Up to 50% of unpaid VAT
- Interest - On late payments
- Audits - Increased scrutiny from DIR
- License Issues - Business license complications
Compliance Features
Real-Time Scoring
Your compliance score (A+ to F) reflects:
- Categorization accuracy
- Timely filing history
- Documentation completeness
- Anomaly resolution
Anomaly Detection
Our system flags potential issues:
- Unusual transaction patterns
- Category inconsistencies
- Missing documentation
- Calculation discrepancies
Alerts
Receive notifications for:
- Upcoming filing deadlines
- Detected anomalies
- Score changes
- Required actions
Compliance Best Practices
- Import transactions weekly - Stay current with your data
- Review categories monthly - Ensure accuracy
- Address alerts promptly - Don't let issues accumulate
- File on time - Before the 28th deadline