S.L. 123.68 Art. 5Reduction of additional tax on voluntary disclosure. Cap. 372.

Where an omission from a return is rectified by a person by means of the delivery of a further return made in accordance with article 13 of the Income Tax Management Act after that person has been notified in writing by the Commissioner that an enquiry will be conducted into that person’s tax declarations and liabilities, but not later than the last day of the month immediately following that in which the said notification is served, the additional tax shall be at the rate of one point five per cent (1.5%) of the endangered tax per month.