CHAPTER 75:01 - Inland Revenue Division

Corporation Tax Act Mac 1
Vol. 1
Section
Section
Section
Section
Section
Sections
Sections
Sections
Section
Sections
Section
Sections
Sections
92 (Refunds)
94 (Certain income deemed to be income for purposes of Act)
137 97 General powers of the Board
103 (Interest for non-payment of tax)
137a 103A (Waiver of interest, additional tax, penalty, etc.)
104 to 108 (Collection)
109 to 112 (Recovery)
113 and 114 (Notices)
115 (Imprisonment of defaulters)
116 to 124 (General Provisions)
125 (Regulations)
130 to 132 (Miscellaneous powers of the Board)
133 to 141 (Expenses allowance to directors and others)
The First, Fifth and Sixth Schedules
138 19A .(1) A company which fails, neglects or refuses to furnish a return of
income for the year of income 1994 and subsequent years after six months
from the time required to file the return, shall, thereafter, in addition to any
other penalty provided in this Act, be liable to a penalty of one thousand
dollars for every six months or part thereof during which such failure,
neglect or refusal continues.
Penalty for late filing
(2) A company which has not furnished a return of income for any year of
income preceding the year of income 1994 and fails, neglects or refuses to
furnish such return on or before 31st October 1995 shall, in addition to any
other penalty provided in the Act, be liable to a penalty of one thousand
dollars in respect of any such return for every six months or part thereof
during which such failure, neglect or refusal continues. Finance Act 1995
(3) The Board may waive or reduce the penalty for late filing in
circumstances where it is just and equitable to do so. Finance Act 2002*
MISCELLANEOUS AND GENERAL
20. (1) An auctioneer, and any person carrying on a trade of dealing in any description
of tangible movable property, or of acting as an agent or intermediary
in dealings in any description of tangible movable property, may be
137 BIR Note: Effective 1st January, 1994
137a Effective 28 th August, 2000
138 BIR Note: Effective 29th March, 1995
BIR Mac Edition 91/01 Page 220