Additional assessment – Section 60
where it appears to an assessor that in any year of assessment, no assessment has been raised on any person chargeable to tax or the taxpayer has been under-assessed.

Where information comes to light inferring that taxpayer has not disclosed the whole profits or that an estimated assessment under s.59(2) is inadequate the assessor is entitled to make an additional assessment under s.60.

The time limit for raising such an assessment is 6 years after the end of the year of assessment concerned. Eg: s.60 additional assessment for 2010/2011 must be raised on or before 31 March 2017. The time limit may be extended from 6 years to 1 years where the non-assessment or underassessment is due to fraud or willful default.

Penalty in the form of additional tax – Section 82A
The CIR and the Deputy Commissioners of Inland Revenue (DCIRs) are given power under the IRO to impose penalties on a taxpayer who has committed certain offences without reasonable excuse:
- makes incorrect return by omitting or understating anything in a tax return either on behalf of himself, another person or a partnership.
- Makes any incorrect statement in connection with a claim for any deduction or allowance under the IRO: gives any incorrect information affecting the tax liability of himself, another person or a partnership, fails to submit a return given to him by an assessor or fails to notify his chargeability to tax.

Maximum penalty is treble the amount of tax undercharged or would have been undercharged.

If taxpayer disagrees with the quantum of s82A Additional Tax, taxpayer may appeal in writing to the clerk to the Board of Review (BoR) within 1 month after the notice of assessment is given to him. The notice of appeal has to be accompanied by a copy of the assessment, a copy of the s.82A notice issued by the CIR or DCIR, if any; and a copy of any written representations made under s.82A(4).

Obligation of Taxpayers:
1) 51(1)...

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