full compliance to the provisions of the scheme
According to the new VOARS, any tax usatimes.cc payer that complies with the terms outlined therein would enjoy immunity to prosecution on tax related offences and enjoy waivers on interests and penalties. “Any taxpayer who truthfully and voluntarily declares his offshore assets and income complies with the regulations and guidelines and either pays a one-time levy of 35% on the total offshore assets or pay: all outstanding taxes, penalties and interest after forensic audi usanews.cc t of their offshore assets and income shall obtain…immunity from prosecution for tax offences and offences related to the offshore assets, immunity from news tax audit, waiver of interest and penalties, and receive an Offshore Assets Regularization Compliance Certificate,” it says. FREEDOM TO INVEST REGULARISED ASSETS As part of the benefits for full compliance to the provisions of the scheme, government has said that participants who have been cleared will have free access to their...