Seychelles joins global Voluntary Disclosure initiative to strengthen tax compliance

Photo of Seychelles Revenue Commission’s Director for Compliance Program and Policy Unit, Ms. Roseline Lepathy, together with Compliance Program & Policy Analyst, Mr. Francis Adrienne, and the Director of Audit, Mrs. Hansha Naiken, announcing the launch of Seychelles Voluntary Disclosure Program through a media interview.

The Seychelles Revenue Commission (SRC) has on 1 June 2026 announced the introduction of its first Voluntary Disclosure Programme (VDP), aimed at encouraging taxpayers to voluntarily come forward and disclose any errors or irregularities in their tax affairs to the Commission.

Aligning to international best practices, taxpayers meeting all eligible criteria when disclosing their outstanding tax affairs to the SRC will benefit from specific arrangements which includes:

•   Waiver on penalties (excluding interest);

•   The opportunity to enter into a flexible payment plan with SRC; and

•   no enforcement measures leading to prosecution.

Eligible disclosures that can be made under the programme includes: 

• Failure to submit any inaccurate or incomplete information relating to direct and indirect taxes to SRC (dating back 4 years from the date the Commissioner General served or is treated as having served the notice of the assessment on the taxpayer as per section 11(3) of the RAA).

• Failure to report any income and assets held abroad that is subject to tax in the Seychelles.

• Failure to register a business; including residential property subject to residential rent; and

• Failure to register a business incorporated in another jurisdiction but managed and controlled in the Seychelles.

Open for a period of one year, taxpayers who are eligible to apply for the VDP must not be undergoing any audit and must not have any legal financial cases related to tax offences, fraud, or financial crime. Taxpayers applying for the VDP must complete the application form available on www.src.gov.sc and submit via email to vdp@src.gov.sc where the taxpayer must provide a complete and comprehensive disclosure of information, including the amount of undeclared income, assets or any incorrect reporting previously submitted in their tax returns, or any information omitted such as registration of businesses accompanied by relevant supporting documents.

Upon receipt of the application, SRC will review the information disclosed and supporting documents, ensuring all criteria’s’ have been met, and where necessary, SRC may request additional information or arrange for a meeting with the taxpayer.

Whilst VDP is open for application to any taxpayer as defined under the Revenue Administration, VDP is not applicable to taxpayers liable to duties and levies as stipulated in Seychelles Customs Management Act and Excise Tax Act, as well as for the same tax issue within the same applicable tax year.

Aligning to global practices, SRC remains committed to build a culture of voluntary compliance, encouraging mutual dialogue with taxpayers and further educating on adherence to tax obligations to reinforce domestic mobilization and fostering the trust between the Commission and taxpayers.