The Finance Act 2020 introduced a Voluntary Tax Disclosure Programme through which a person discloses their tax liabilities so that the Commissioner grants them relief from penalties and interests. The Programme will run for a period of 3 years with effect from 1st January 2021. Depending on the year the disclosure is made, the person will enjoy remission on interest and penalties on the tax liability of 100%, 50% and 25%. Notably, the Bill proposes that the person who makes such disclosure shall not be prosecuted for the liability disclosed and the disclosure shall be confidential.

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