Penalty for failure to furnish information returns: daily fines may be imposed, subject to a statutory cap and notice. Failure to furnish an information return required under section 150 within the period specified in a notice under subsection (3) attracts a penalty; the ... Summary
Penalty for failure to furnish information returns: daily fines may be imposed, subject to a statutory cap and notice.
Failure to furnish an information return required under section 150 within the period specified in a notice under subsection (3) attracts a penalty; the proper officer may direct a daily penalty for each day the failure continues, subject to an overall statutory cap, and the sanction is triggered only where the notice period has expired without compliance.
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