அதிகாரப்பூர்வ மொழிபெயர்ப்புDepartment of Government Printing-இலிருந்து, மாற்றமின்றி
(1)
A person to whom this Part applies shall be liable to pay a tax to be called the “Tax on Voluntary Disclosure”
to the Commissioner-General prior to making the declaration under section 5 subject to the provisions of subsection (2).
(2)
Where a person to whom this Part applies intends to disclose –
(a)
any undisclosed taxable supply, income or asset other than immovable or movable property in the declaration made under subsection (1) of section 5, he is liable to pay the Tax on Voluntary Disclosure at the rate of one per centum of such amount or income, or on the cost of such asset invested or deposited under section 3; or
(b)
any immovable or movable property in the declaration made under subsection (1) of section 5, he is liable to pay Tax on Voluntary Disclosure at the rate of one per centum on the market value of such property on the date of the declaration.
(3)
Any amount of the Tax on Voluntary Disclosure paid by a person to whom this Part applies shall not be deemed to be a tax credit or an expenditure within the meaning of the
Inland Revenue Act, No. 24 of 2017 and shall not be refundable.