Broadcast United

Computer/Automatic Support System for VAT Taxpayers – Cape Verde Tax Authority

Broadcast United News Desk
Computer/Automatic Support System for VAT Taxpayers – Cape Verde Tax Authority

[ad_1]

Dear taxpayers,

In order to improve tax compliance and avoid non-compliance, DNRE will provide a new service for VAT taxpayers.

From June 2, the computer system will be put into production with the sole purpose of supporting voluntary VAT compliance. The system automatically detects all invoices issued by taxpayers and checks whether the corresponding values ​​are included in the Model 106 return for the corresponding tax period.

If the invoiced value does not correspond to the declared value, the system will issue a regularization proposal to the respective taxpayer, with all the exemplary information provided on Portondinosilha, proposing the corresponding voluntary regularization. Likewise, the taxpayer will have the option of inserting a justification or explanation, which will be analyzed by the competent fiscal department.

This service will operate in an automated and dematerialized way, verifying the compliance of all VAT declarations, thus offering the possibility to SPs, on a voluntary basis, to regularize accordingly, limiting the execution of inspection actions only in cases of vital importance, reducing the high costs associated with them.

Likewise, through voluntary regulation of the findings, VAT taxpayers will benefit from a significant reduction in the cost of non-compliance.

If the detected situation is not normalized, the system will proceed with the opening and processing of the tax inspection operation, also automated, a feature that is expected to go into production only by the end of the third quarter of this year.

DNRE assists companies in meeting their tax obligations to reduce costs.

Sincerely,

May 27, 2021

DNRE National Director

Lisa Watts

author: Rui Sanches Consulting Ltd.

Accounting, tax consulting and training office for small and medium-sized companies operating in the Praia and São Domingos regions of Cape Verde. Contact: geral@rui-sanches.com | +2389209955

[ad_2]

Source link

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *