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. 



"IBBZ accounting have helped me and my business out of what looked like an impossible situation. They took over all negotiations with IRD and were able to put together an agreement and payment plan that met the requirements of IRD and that I am able to commit to. At the same time they were able to negotiate some major tax relief that my previous accountant never tried to do. Going forward Saurav and the team have given me a structured process that ensures we never get in trouble again. I can not thank the team enough and recommend them as the first and only call you should make if you are facing IRD issues or just need solid accounting advise. "
"1. Excellent advise on accounting and tax related matters (Specialized Advise).
2. Pro-active and consistent follow up with advise and assistance.
3. Very satisfied with work done and advise provided.
4. Good performance resulted in substantial tax savings.
5. Special gratitude to Saurav and Ravi for their professionalism in advise and performance.
6. Took upon themselves the stress which I would have gone through in my busy schedule."
"Thank you so much for all your hard work. It is a huge relief to finally have this sorted. I would also like to say how pleasent it has been dealing with you all at IBBZ."