Managing voluntary disclosures
The Voluntary Disclosures Program (VDP) allows taxpayers to come forward and correct a mistake, inaccurate or incomplete information or to disclose information they have not reported during previous dealings with the Tax Authorities without penalty or prosecution.
Although not officially recognized as VDP by the Serbian authorities and legislation, the Law on Tax Procedure and Tax Administration allows taxpayers under certain conditions to make disclosure of an error or other tax information which have not been reported to the Tax Authorities in prior periods but may affect the tax position of the taxpayer.
Your situation:
- You need better understanding of the implications of a tax issue and how it can be resolved;
- You need assistance to the management of a newly acquired company to address and resolve tax issues and risks identified in the acquisition due diligence;
- You want to ensure that the remediation information and documentation are compliant with tax regulations;
- You want to ensure that all legal and tax procedure instruments are used in the most effective manner;
- You need guidance and support through the entire disclosure process.
Our services:
- Analysing a potential tax issue that has been identified by the company or during a tax compliance review, and advising on its implications and actions available to address it through voluntary disclosure;
- Creating an optimal strategy and developing a detailed step-by-step plan;
- Preparing or reviewing tax information to be reported;
- Managing and monitoring the disclosure process and communication with the authorities;
- Support during tax audits performed by the tax authorities.
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