SRC Launches Voluntary Disclosure Programme to Strengthen Tax Compliance

VICTORIA, Seychelles — The Seychelles Revenue Commission has officially launched its Voluntary Disclosure Programme, an initiative designed to encourage taxpayers to voluntarily disclose any errors or irregularities in their tax affairs. The programme was unveiled during a press briefing at Maison Collet, where SRC officials explained that the scheme provides taxpayers with an opportunity to regularise past tax defaults and omissions while benefiting from relief measures offered by the Commission.

The VDP will run as a one-year pilot project from June 1, 2026, to June 1, 2027. This period will allow SRC to identify areas for improvement before deciding whether to integrate the programme permanently into law. According to Roseline Lepathy, director of the Compliance Programme and Policy Unit, the initiative aims to promote transparency and foster a culture of voluntary compliance. It also supports ongoing efforts to enhance domestic resource mobilisation and improve overall tax compliance in Seychelles.

Benefits available to participants include waiver of penalties, excluding interest, flexible payment plans such as instalments, and protection from enforcement measures except in cases of suspected tax evasion or financial crimes like money laundering. The programme also applies to businesses that have been operating without registering with SRC or obtaining a Tax Identification Number. Applicants must complete the application form available at www.src.gov.sc and provide full disclosure of undeclared income, assets, or incorrect reporting.

Eligibility criteria include that taxpayers must not be undergoing an audit and must not have pending legal cases related to tax offences, fraud, or financial crime. Multinational entities that submit the Country-by-Country Reporting questionnaire by June 5, 2026, may apply no later than July 31, 2026. A committee will evaluate applications, and SRC will respond within 30 working days. If approved, taxpayers will enter into a formal agreement with SRC outlining terms and conditions.

Importantly, the VDP does not apply to taxpayers liable for duties and levies under the Customs Management Act or the Excise Tax Act. SRC has urged individuals and businesses with outstanding tax obligations or undisclosed matters to take advantage of the programme, noting that officers are available to provide guidance and assistance with applications.

The programme represents a significant step in modernising Seychelles’ tax administration and broadening the revenue base.