Article 24 - Tax Assessments

Article (24)

Tax Assessments

1. The Authority shall issue a Tax Assessment to determine the Payable Tax and notify the Taxable Person within five business days of its issuance, in any of the following cases:

a. The failure of the Taxable Person to apply for registration within the timeframe specified by the Tax Law.

b. The failure of the Registrant to submit a Tax Return within the timeframe specified by the Tax Law.

c. The failure of the Registrant to settle the Payable Tax stated as such on the Tax Return that was submitted within the time limit specified by the Tax Law.

d. The submittal of an incorrect Tax Return by the Taxable Person.

e. The failure of the Registrant to account for Tax on behalf of another Person when he is obligated to do so under the Tax Law.

f. In case of a shortfall in the Payable Tax as a result of a Person’s Tax Evasion, or as a result of a Tax Evasion in which such Person was involved.

2. The Authority may issue an estimated Tax Assessment if it has not been possible to determine the amount of Tax deemed to be a Payable Tax or the Refundable Tax that has not been due to be refunded, as the case may be.

3. The Authority may amend a Tax Assessment that was estimated, based on new information that surface after the issuance of said estimation. It shall notify the concerned Person of these amendments within (5) five business days from the date of amendment.

4. The Executive Regulation of this Law shall specify the information or data that shall be included in the Tax Assessment.