Voluntary disclosure – meaning and definition
What is a voluntary disclosure?
A voluntary disclosure is when a taxpayer identifies errors in returns they have filed. It may result in increased tax but often it’s a way to mitigate penalties on these. The IRD will review the voluntary disclosure and may take further action if required.
Voluntary disclosure- video guide
Kathleen Payne, our Strategic Partnerships Manager, explains what a voluntary disclosure is.
Further resources:
- Our Provisional Tax Guide
- Get help with reassessments
- Learn more about IRD audit