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. 

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Testimonials

Navy Chuon
30-April-2020
Excellent service and helpful people.
Hilltop
10-February-2020
IBBZ Accounting are amazing . Customer service is there I feel confident with them they always help you and are very polite and reassuring , They bring back your confidence knowing that they are always with you . I like them .
Sergio Ritossa
10-January-2020
Great guys, helped me out.