On Sep. 11, TAI Justice, TAI GVT proposed amendment re exemption.
TAI Justice, TAI GVT issued notice to consult on proposal to make revisions to article 16-3 of Standards for the exemption of penalties for misconduct in taxation affairs.
The amendments aim to encourage businesses to comply with the electronic invoice transmission requirements by clarifying exemption criteria for minor violations.
Overview of Proposal
If a business, after its first notification by the tax authority, promptly and accurately rectifies the issue, it is considered a minor violation, should be exempt from penalties.
Similarly, if business submits necessary data before any complaints, notifications, or investigations, it is also seen as a minor violation and is exempt from penalties.
In addition, such cases will not be counted towards the total number of violations.
Effectiveness
The comment period for this consultation is open until Nov. 11, 2024.
Nov. 2024 Amendment Finalized
On Nov. 21, 2024, TAI Justice issued TAI GVT order for amendment of above standards.
The amendments will be effective from Jan. 1, 2025.
Regulators
TAI GVT; TAI Justice
Entity Types
Corp
Reference
RF MOF No. 11304647680, 11/21/2024; Nt MOF No. 11300636670, 9/11/2024
