Special voluntary disclosure programme

As anticipated by numerous commentators, the Minister of Finance announced in his budget speech a Special Voluntary Disclosure Programme (“SVDP”) in respect of undisclosed foreign assets and income.

Taxpayers have been afforded a limited time period in which to disclose previously undisclosed foreign assets. This opportunity is available for a once off six month period from 1 October 2016 and closing on 31 March 2017.