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Contents

Long Title

Part I PRELIMINARY

Part II ADMINISTRATION

Part III IMPOSITION AND EXTENT OF TAX

Part IV CREDIT FOR INPUT TAX AGAINST OUTPUT TAX

Part V RELIEFS

Part VI SPECIAL CASES

Part VII ACCOUNTING AND ASSESSMENTS

Part VIII BOARD OF REVIEW

Part IX OFFENCES AND PENALTIES

Part X PROCEEDINGS

Part XI COLLECTION AND ENFORCEMENT

Part XII GENERAL PROVISIONS

FIRST SCHEDULE Registration

SECOND SCHEDULE Matters to be Treated As Supply of Goods or Services

THIRD SCHEDULE Valuation — Special Cases

FOURTH SCHEDULE Exemptions

Legislative History

Comparative Table

 
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Related Subsidiary Legislation | Legislative History | Amendment Annotation off
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On 26/05/2013, you requested for the version in force on 26/05/2013 incorporating all amendments published on or before 26/05/2013. The closest version currently available is that of 31/07/2001.
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Penalty for failure to pay or make returns within prescribed period
60.
—(1)  If any tax is not paid by a taxable person within the periods prescribed in regulations made under section 41 —
(a)
a penalty equal to 5% of the amount of tax payable shall be added thereto; and
(b)
if the amount of tax outstanding is not paid within 60 days of the imposition of the penalty as provided by paragraph (a), an additional penalty of 2% of the tax outstanding shall be payable for each completed month that the tax remains unpaid commencing from the date on which the tax became payable, but the total additional penalty shall not exceed 50% of the amount of tax outstanding.
(2)  If any return is not made by a taxable person within the periods prescribed in regulations made under section 41, that taxable person shall be liable to pay a penalty of $200 for each completed month that he continues not to submit the return but the total penalty shall not exceed $10,000.