Clause 128 - Power to remove difficulties.

Foreign assets disclosure scheme for small taxpayers sets declaration, payment, immunity and exclusion rules, plus power to remove implementation difficulties.

Clause 128 authorises the Central Government to make orders, consistent with the Scheme, to remove difficulties in giving effect to the Foreign Assets of Small Taxpayers Disclosure Scheme, 2026, within two years of commencement and subject to laying orders before Parliament. The Chapter defines key terms, sets eligibility and procedures for declarations, prescribes determination and payment of tax, penalty or fee, provides for electronic verification and certificates of payment, limits post declaration remedies and refunds, conditions immunity from specified offences, excludes certain cases from the Scheme, and grants rule making and direction powers to administer the Scheme.