Chris Oates and Paul Noble Ernst & Young Tax Risk Management Group ask what incentive is there to make a voluntary disclosure?
We increasingly hear of the 'tax gap' widening as public spending commitments outstrip tax revenues. It would therefore seem reasonable to expect that the Inland Revenue would be at great pains to encourage voluntary disclosures of unassessed tax liabilities.
An important element in this process is the incentive to those that make an error in or an omission from a return to come forward and clear up the matter on a voluntary basis thereby releasing the Inland Revenue's valuable resources to focus on recalcitrant tax evaders. The main incentive for voluntary disclosure has been the ability for the taxpayer to take advantage of an additional reduction in...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
Chris Oates and Paul Noble Ernst & Young Tax Risk Management Group ask what incentive is there to make a voluntary disclosure?
We increasingly hear of the 'tax gap' widening as public spending commitments outstrip tax revenues. It would therefore seem reasonable to expect that the Inland Revenue would be at great pains to encourage voluntary disclosures of unassessed tax liabilities.
An important element in this process is the incentive to those that make an error in or an omission from a return to come forward and clear up the matter on a voluntary basis thereby releasing the Inland Revenue's valuable resources to focus on recalcitrant tax evaders. The main incentive for voluntary disclosure has been the ability for the taxpayer to take advantage of an additional reduction in...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
