What Happens After The Return Has Been Filed
When an income tax return is received by the Inland Revenue Department, it will be reviewed by an assessor. If the return is incomplete or incorrect, you may be contacted to clarify any information or you may be asked to re-file. Once the tax return has been assessed, the taxpayer will receive a notice of assessment and a document entitled “Income Tax Computation and Explanation of Adjustment(s)” which will outline the details of the assessment and explain any adjustments, made by the Inland Revenue Department.
The Comptroller may refuse to accept a tax return if it does not meet the minimum filing requirements. Section 52 (2) b of the Income Tax Act states that the comptroller
Where a person has delivered a return, the Comptroller may…
…. refuse to accept the return and, to the best of his or her judgment,
determine the amount of the chargeable income of the person and assess him or her accordingly.
When a return is rejected and the taxpayer does not resubmit before the due date, late filing penalties and interest will be charged.
Taxpayers are reminded that property tax is due and payable each year, on or before June 30th.
NB All property bills with arrears, must first be queried at the Customer Service Section, before payment is made. Property bills without arrears should be taken directly to the Cashier Section for payment.
All vehicle owners whose licence plate ends with 1, must renew their vehicle licence before January 31st. Similarly, if your vehicle licence plate ends with 2, you must renew your vehicle licence before February 29th to avoid interest charges and ticketing fees..
All insurance companies are reminded that a statement showing the number of policies issued, the value of every policy and any other information required by the Accountant General must accompany the registration fee remittance and the insurance premium remittance. The forms can be found under Form & Guides tab then click on Tax Returns.