Tax Amnesty Programme brings in more than R167 million
January 28, 2022
The Seychelles Revenue Commission (SRC) has collected a total of R167,128,382.19, under the Tax Amnesty Programme, launched last year.
The six month programme started in July and ended at the end of December 2021.
Under the programme, taxpayers benefitted from various percentages of waivers on interests accumulated, while penalties were waived completely.
SRC collected R145,851,374.08 in primary taxes, and R21,277,008.11 on interests.
The total amount of penalty waived by SRC, stood at R91,763,764.14. On the other hand, SRC waived a total of R38,848,474.24 of interests.
The total debt reduction under the programme, is R297,740,620.57.
SRC registered a total of 3263 taxpayers, who participated in the programme, however only 1344 participated fully, by clearing their debt.
Giving a breakdown of the success of the programme to the media on Thursday 27th January, 2022, SRC said it is ‘satisfied with the turnout, especially taxpayers who willingly came forward to sort out their tax issues.’
The Tax Amnesty Programme was introduced to encourage taxpayers to sort out their tax matters with SRC, thus enabling the government to collect more revenue.