A bill for an act to amend the tax administration decree 2009 has been passed by parliament.
Attorney General and Minister for Finance while tabling this Bill in parliament highlighted that hopefully more people will come forward to declare their off-shore assets which will generate more income for the government.
The government had given an amnesty as announced in the budget for the first six months of this year which was extended to 15th October to give an amnesty to those Fijians who have assets offshore and have not declared it.
Sayed Khaiyum adds should anyone declare their off-shore assets during this amnesty period they will not be paying any penalties or fines.
Sayed Khaiyum says they have been told by the market if they had this law, more people will be coming forward as more people now have the appetite to come forward and declare this.
Sayed-Khaiyum said $17 million dollars worth of undeclared assets have now being declared.
Opposition MP Prem Singh said he supports the bill.
31 parliamentarians supported the bill during the vote, 10 voted against it while 7 did not vote.
Stay tuned for the latest news on our radio stations