WHAT IS THE STATUTE OF LIMITATION FOR TAX MATTERS ?
Within ten years from the date a tax is payable or from the end of Taxable Period the Directorate General of Taxes may issue a Notice of Tax Underpayment Assessment in the following conditions : • Based on the result of a tax audit or other information, a tax payable is unpaid or underpaid • A Tax return is not filed within certain period and after being warned in writing, the Tax Return is not filed within the time specified in the Letter of Reprimand • Based on the result of a tax audit of VAT and Sales Tax on Luxury Goods, it is found that a tax overpayment should not have been carried over or that 0% rate should not have been applied • The obligation to maintain bookkeeping have not been met so that the amount of tax payable cannot be determined
