IBBZ Accounting

Chartered Accountants & Tax Specialist

 

Voluntary disclosure

 

Problem: Voluntary disclosure is a way that business used to reduce their shortfall penalties and in many cases avoid the risk of prosecution. Most people want to disclosure their tax voluntarily because they want a fresh start on their tax affair. Thus, a voluntary disclosure must be made carefully and precisely, as it is verified by the IRD and it can be followed by a full investigation.

If a voluntary disclosure is made before notification of a pending investigation, the penalty is reduced by 100% where the shortfall penalty is for not taking reasonable care, for taking an unacceptable tax position or for an unacceptable interpretation. For all other cases the penalty is reduced by 75%. 

Solution: IBBZ accountants will help you to understand voluntary disclosures and advice when you need to make one. We will also assist you with your voluntary disclosures and negotiate settlements with the IRD on the best terms possible. 

Google Reviews

 

Testimonials

Karen
14-February-2019
"Fast, efficient and friendly .Thanks again for the great service."
M25
12-February-2019
"I am grateful for IBBZ accounting services who helped me through an IRD tax audit with a favourable outcome and they continue to help me with my GST returns. They are very friendly and approachable."
William
11-February-2019
"Pleasant and relatively non-intrusive. Did not interfere too much with my work. Staff were always friendly and helpful. Got my tax debt cut by more than 50% which made life a lot easier. Highly recommended."