Seychelles Revenue Commission launches voluntary tax disclosure programme

The Seychelles Revenue Commission (SRC) has launched the Voluntary Disclosure Programme (VDP) to improve tax compliance. The initiative encourages taxpayers to report errors or irregularities in their tax affairs.

Under the programme, eligible taxpayers who come forward can receive a waiver on penalties, though interest will still apply. Participants may also access flexible payment plans and will avoid enforcement measures that lead to prosecution.

Eligible disclosures include failures to submit accurate tax information, failure to report foreign income or assets, and failure to register businesses or residential rental properties. To qualify, taxpayers must not be currently undergoing an audit or involved in legal cases related to tax offences, fraud, or financial crime.