Errors in tax returns happen. The critical question is when and how they are corrected. Timely action can lead to very different consequences compared to corrections made after a tax audit has begun.
When is a correction still favourable?
A correction is generally favourable when:
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it is submitted before an audit begins,
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it qualifies as voluntary disclosure,
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the data provided is complete and accurate.
When is it already too late?
Problems arise when:
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an audit has already started,
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irregularities are identified by the tax authority,
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corrections lack proper justification.
➡️ Important: The difference between voluntary disclosure and an audit often determines whether penalties apply.
CTA:
👉 Before submitting a correction, we can assess your situation and advise on the best course of action.