If a company`s volunteer agreement or VDA is accepted, there are strict deadlines that must be met to obtain all the benefits of the Voluntary Disclosure Agreement program. Remember that a voluntary disclosure agreement is a legal agreement between the company and the state. So there are very clear results that need to be provided by the company, as well as a strict timeline as to when these items are to be made available. Like almost everything in sales and use tax, these timelines vary from state to state, but an expert revenue tax advisor will know these timelines and be certain that their client will meet them. As has already been said, the self-declaration program is not limited to income tax. The program includes other taxes that a person may owe to the Georgian Revenue Department, including turnover taxes and withholding taxes of the employer, whose responsibility is personal. A voluntary disclosure agreement is a legal agreement between a public tax authority and a company that acknowledges that it has not fulfilled its obligations with respect to sales and use tax compliance. The voluntary disclosure agreement will allow the company to enter into all necessary internal registrations and fulfill all outstanding tax liabilities. In the future, once the Voluntary Disclosure Agreement program is concluded, the company will have regular monthly, quarterly or annual VAT reporting obligations with the state, depending on the importance of the activity within the state.

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