• Income Tax
  • Who Must File A Return
  • File A Return
  • Rates & Calculations
  • Taxable & Non-Taxable Allowances
  • Interest & Penalties

• Any person chargeable with tax who refuses, fails, or neglects to deliver a Return of his income to the Commissioner on or before the prescribed day in every year is liable to a penalty not exceeding $ 100,000.00.
• Where a person has not delivered a Return within the prescribed time under Section 60 (1) of the Income Tax Act, the Commissioner may add to an assessment made upon such a person a sum equal to ten percent of the amount of the tax assessed. For Year of Assessment 2018 and onwards where a Loss or Deficit Return was submitted after the prescribed time, the Commissioner General may charge a flat fee of $50,000 on each Loss or Deficit Return submitted.
• Where a person refuses, fails, or neglects to make a return of chargeable income for the year immediately preceding the Year of Assessment within the time specified in a notice issued by the Commissioner to such person under Sec. 60(4) of the Income Tax Act, the Commissioner shall add to the assessment a sum equal to ten percentum of the amount of tax assessed.
• Any person who without reasonable excuse makes an incorrect return by omitting or understating any income of which he is required by the act to make a return, whether on his own behalf or on behalf of another person or makes an incorrect statement in connection with a claim for deduction in estimating taxable income or gives any incorrect information in relation to any matter or thing affecting his own liability to tax or the liability of any other person is liable on summary conviction to a fine not exceeding $ 100,000.00 and double the amount of the tax which has been or would have been undercharged in consequence thereof.
• Any person who knowingly makes any false statement or representation in any Income Tax Return, or who keeps or prepares false accounts of any profits chargeable to Income Tax, or aids or abets any person of such offences, is liable on summary conviction to a fine not exceeding $100,000.00 and treble the amount of tax which has been undercharged in consequence of such false account, particulars return, statement. Information or would have been so undercharged if the account, particulars, return, statement, information, or representation has been accepted as correct and to imprisonment for six months.