Voluntary disclosure thresholds tightened: higher threshold where assessment proceedings initiated, and prepayment with proof is required.

Amendment revises eligibility for voluntary disclosure by setting higher tax thresholds where assessment or reassessment proceedings have been initiated and a lower threshold otherwise. Admissibility requires payment, on or before the application date, of the tax and interest that would have been payable had the income been declared earlier, with proof of such payment attached to the application.

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