Tax Amnesty – 2023
Tax amnesty – 2023As a business owner it’s difficult at times keeping up with current trends and tax updates which is why you must always take advantage of the tax amnesty period when it comes around. What is Tax Amnesty? Tax amnesty allows taxpayers to voluntarily disclose and pay tax owing in exchange for avoiding tax evasion penalties. It is a limited-time opportunity for a specified group of taxpayers to pay a defined amount, in exchange for forgiveness of a tax liability relating to previous tax periods.The benefits of a Tax AmnestyThe benefits of using amnesty may include avoiding expensive financial debts.In other words if you owe the government $150,000 for the past 3 years, during this period you’re given the opportunity to pay this set principle amount without any interests…