The draft tax delegation bill emphasizes the importance of having a Tax Control Framework (TCF) to assess a taxpayer’s reliability. The bill proposes expanding the eligibility criteria for collaborative compliance, improving the application process, and enhancing the rewards for compliant taxpayers. It also introduces penalties reduction or exclusion for all taxpayers implementing a TCF and communicating potential tax risks. The TCF model includes defining a tax strategy, assigning roles and responsibilities, implementing risk management procedures, monitoring systems, and reporting to management.
Source: eutekne.info
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