A voluntary tax disclosure program is a program through which governments waive penalties and/or interest on unpaid tax liabilities or unfulfilled filing requirements in exchange for the eligible taxpayers voluntarily disclosing certain information with respect to their liability. The programs provide an opportunity for governments to realize more revenues while avoiding costly and contentious audits, litigation and criminal proceedings. The Finance Bill, 2020, seeks to amend the Tax Procedures Act, 2015 to introduce such a program.

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