VOLUNTARY DISCLOSURE & CORRECTION STATEMENTS
The correction of tax returns may be called for when there is a change of management in a company. With the arrival of a new managing director or executive the question often arises on how to act if their predecessor, knowingly or unknowingly has not fulfilled the companies tax obligations.
Also in the case of inheritance, an adjustment of the deceased's tax returns can be necessary if income was not specified in their tax return or they did not comply with tax laws in other ways.
With globalization, the filing of tax returns in respect of foreign earnings is increasingly more important.
In all cases, the tax return needs to be accurate, complete, and submitted before mistakes are brought to light. According to new legislation, partially amended returns are no longer acceptable as a means of avoiding prosecution. We provide advice on choosing the most appropriate form of adjustment / voluntary disclosure and the correct calculation of your income.