Horizontal Monitoring will be on a trial from November to the end of 2010.
The NTS will conduct a pilot run of the program first to companies having a high level of business transparency and ethics, as well as a strong internal control system. The program will eventually be rolled out to a wider taxpayer base depending on the result of the pilot.
Horizontal monitoring provides a win-win for taxpayers and revenue bodies alike: Compliant companies are able to minimize tax uncertainties by having their tax issues settled upfront, whereas tax authorities can maximize administrative efficiency by re-allocating audit resources away from compliant taxpayers and concentrating them into those requiring the most enforcement attention.
Under the Compliance Agreement, a company agrees to disclose all its tax issues on a voluntary basis. In return, the NTS has the obligation to provide binding answers on a timely basis.
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