TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Legal entity becomes assessee in default for failing to deduct collect or remit tax at source</h1> A legal entity that fails to deduct, collect, or remit tax at source becomes an 'assessee in default' under proposed tax legislation. Relief is available if the recipient filed returns, declared the income, and paid taxes, with an accountant's certificate confirming compliance. Interest applies at 1% monthly for non-deduction/collection and 1.5% for delayed remittance. Unpaid taxes create a statutory charge on the defaulter's assets. Proceedings must commence within six years of the tax year or two years from correction statement filing. Penalties require proof that failure occurred without good reason.
TaxTMI 
TaxTMI 