You are viewing post New amendments to the income disclosure procedure

The amendments filed on 19.12.2016 to the Parliament by the Ministry of Finance provide an opportunity for a large number of taxpayers to disclose their income in the tax inspections, as well as fees and contributions from previous financial years up to 2016. This settlement represents a new form of corrections more severe than those applied to the relevant procedures in the past, with a typical example of the recovery of amounts from 30% to 60% without the final result for the taxpayer.
Those who achieve their inclusion in the settlement will pay a tax, which will be followed by 30 days or will be connected to the settlement by 12 or 24 installments. On the basis of the available information, they already started sending e-mails from the tax inspections to inform taxpayers about the discrepancies between the declared data and their deposits in banks, with an invitation to be included in the settlement without inspection. However, the tax authorities retain the right to conduct the inspection, upon receipt of additional information regarding the use of the settlement by the taxpayer.