Are there any penalties for failure to file returns?
Where a return has not been filed for the year immediately preceding any year of assessment or where a return is not filed in compliance with a notice served, the Commissioner may: • add to an assessment made on a person failing to make a return on time, a sum equal to two percent of the amount of tax assessed. • add to an assessment made on a person failing to make a return in compliance with a notice served a sum equal to five percent of the tax assessed.
