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. 

 

Testimonials

Menisha
13-August-2018
"These guys are super professional and never stop trying. Felt like I had a hopeless chance of success however no matter what obstacle they encountered they never stopped battling for me and got an amazing and unbelievable result against IRD. If you are looking for tax help these guys are the people to reach out too!"
Ken & Lixiang
11-July-2018
"Dealing with Saurav, Ravi and the team were exceptional! they put so much time, effort and hard work to help us and guide us along all the way. Keeping us in contact and following up. Lixiang and I would like to thank you all and for your excellent service and being so helpful. All the best to you all. Many Thanks!"
Vincent
14-June-2018
"Very pleasant, Generally easy to deal with. Explained process well, making things run smoothly. Great outcome!!
Would recommend to any business."