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

Warwick
19-November-2019
I "highly" recommend talking to IBBZ accountants when going through the process of sorting out a stressful tax situation, I did and decided to trust in them to help me. It was the right decision.
Leong
13-November-2019
Competent and well-versed with personal tax matters.Thank you Saurav and team for the tax advice and services rendered.
I am very happy to hear that my tax penalties have been waived. Thank you very much. I received an email from IRD advising my wife's tax penalties have been refunded. Well done guys and many thanks!
Martin
13-November-2019
Great service. Very helpful. Keep it up.