Voluntary Disclosure of Income Scheme for Foreign Assets (VDIS-FA)
The scheme is governed by Section 161A(63) to the Income Tax Act.
The VDIS-FA is to provide an incentive to persons who have acquired assets abroad, either in bank accounts or in the form of any assets, from under-declared or undeclared income derived from Mauritius, to come forward with a voluntary disclosure.
The disclosure is in respect of:-
- Income derived by individuals for any income year up to and including income year ended 30 June 2018; and
- Income derived by companies for any year of assessment up to and including year of assessment 2018-2019.
Eligible declarants will benefit from full waiver of penalties and interest on the tax paid.
The scheme is operational up to 31 March 2020.
Additional Information on VDIS - FA