Offshore Penalties
There was a time when penalties were relatively simple. If a tax return was wrong, other than through human error, a penalty was charged as a percentage of the additional tax identified.
There was a time when penalties were relatively simple. If a tax return was wrong, other than through human error, a penalty was charged as a percentage of the additional tax identified.
Editor’s note: the government response was published on the 17th December 2015 and the author has kindly agreed to prepare a commentary on the revised proposals in the next issue of MOT Voice.