In a tax seminar one of the facilitators noted that, “The Tax Procedures Act 2015, specifies on information that the Commissioner should include in the default assessment to a taxpayer”.
With reference to the above statement, outline five categories of such information.
- The amount assessed as tax or the amount of deficit or excess input tax carried forward.
- The amount assessed as late submission penalty and any late payment payable in respect of the tax, deficit or excess input tax assessed.
- The amount of any late payment interest payable in respect of the tax assessed.
- The reporting period to which the assessment relates.
- The due date for payment of the tax, penalty, and interest being a date that is not less than 30days from the date of service of the notice.
- The manner of objecting to the assessment.