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Frequently Asked Questions on VAT

Last updated on 17 August, 2018


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What happens if I fail to pay the amount stated in the tax return or tax assessment form within the specified time period?

You will incur a late payment penalty as follows: 

  • 2% of the unpaid tax is due immediately.

  • 4% of any amount still unpaid is due on the seventh day following the deadline for payment.

  • 1% daily penalty will be charged on any amount that is still unpaid one calendar month after the deadline for payment, up to a maximum of 300%.

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