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Income Tax Act (Cap. 123) Reduction Of Additional Tax (Default In Furnishing Return) Rules, 2003 (L.N. No. 127 Of 2003 )

INCOME TAX ACT (CAP. 123)
Reduction of Additional Tax
(Default in Furnishing Return) Rules, 2003
IN exercise of the powers conferred by article 96 and by item 10(b) of the Schedule to the Income Tax Act, hereinafter referred to as “the Act”, the Minister of Finance and Economic Affairs has made the following rules>–
1. (1) The title of these rules is the Reduction of Additional
Tax (Default in Furnishing Return) Rules, 2003.
(2) These rules shall apply in respect of the year of assessment commencing on the 1st January, 2003 and subsequent years of assessment.
2. In these rules>–
“additional tax” means the additional tax chargeable in accordance with the provisions of article 56(12)(c) of the Act and the provisions of the Schedule in respect of a default in furnishing a return<
“Schedule” means the Schedule to the Act<
3. The Commissioner may remit such part or all of the additional tax otherwise due in accordance with the provisions of the Schedule, as he may deem fit, provided that>
(a) the Commissioner may impose as a condition for any such remission the requirement that the person concerned shall not make another default in furnishing his return within such period as the Commissioner may establish, as well as such other conditions as he may deem fit>
(b) should any condition imposed by the Commissioner in accordance with the provisions of paragraph (a) hereof be infringed by the person concerned, any reduction of additional tax granted by the Commissioner in addition to the reductions contemplated by the other provisions of these rules shall be forfeited>

Title and commencement.

Interpretation.

Certain powers of the Commissioner.

B 1470

Appeals.

(c) if forfeiture is so due, under the provisions of sub-rule (b) hereof, any additional reduction made under the provisions of this rule shall be deemed to have been a suspension of liability to the said additional tax, and not the cancellation of the relevant additional tax<
(d) the Commissioner shall communicate in writing to the person concerned any condition imposed under sub-rule (b) hereof, the consequences of infringement of any such condition and, if such is the case, the fact that forfeiture has been incurred.
4. The use of the Commissioner’s discretion for the purposes of these rules shall not be questioned in any appeal.

Ippubblikat mid-Dipartiment ta’ l-Informazzjoni – 3, Pjazza Kastilja – Published by the Department of Information – 3, Castille Place

Mitbug[ fl-Istamperija tal-Gvern – Printed at the Government Printing Press

Prezz 4c – Price 4c