The Ministry of Finance published drafts proposal of the Tax Code and the Fiscal Procedures Code, on 30 June 2014. Under draft proposals currently under discussion the penalty for an under declaration of profits would be 10% of the additional amount
Germany is to impose stronger value added tax (VAT) penalties in relation to cases where the taxpayer has voluntarily disclosed incorrect amounts on the return. Companies detecting and correcting errors in their VAT returns has tended to be treated
On 18 December 2013 the Russian Ministry of Finance (MoF) published Letter No. 03-08-05/55702, clarifying the tax treatment of contractual penalties paid by a Russian company to a Ukrainian company for violation of the contractual terms. According
