Tax Amnesty Programme coming to an end
December 27, 2021
The Seychelles Revenue Commission’s Tax Amnesty Programme, will come to an end on 31st December, 2021.
The six-month programme got underway on 01st July, 2021.
Under the programme, taxpayers benefited from various percentages of waivers on interests accumulated on tax arrears.
The programme was conducted in three phases, in which during the first two months (July/August), the percentage of waivers on interests (75%) and while the waiver on penalties remained at 100% at all times.
During the second phase (September/October), the waiver on the percentage on interest, decreased to 50%, while in the third and last phase (November/December), the waiver was 25%.
It should be noted that throughout the six months tax amnesty programme, the waiver on penalties was 100%.
The Tax Amnesty programme was introduced with the objective of encouraging taxpayers whose taxes were not in order to sort out the matter with SRC. At the same time, the Government would collect more revenue.
Speaking to the media at the launch of the programme, earlier this year, the Minister for Finance, Economic Planning and Trade, Naadir Hassan, explained that such a programme is a common practice worldwide, especially in times of economic hardships.
“The tax amnesty programme is to encourage taxpayers who have defaulted on their payments to come pay their tax owed, as they will benefit from a reduction on interest and penalties.”