Section 8, The Finance Act, 2015

The Income Tax Act, 2000 is amended by the insertion of thefollowing new section immediately after section 152– 152 A. (1) Subject to section 149, a person who fails to pay income tax seven days after payment is due under this Act is liable to a penalty– (a) where the failure is for a period of not more than 30 days, to a sum equal to 10 % of the tax payable in addition to the unpaid tax; (b) where the failure is for a period of more than 30 days and up to 90 days, to a sum equal to 15% of the tax payable; 147 of Act No. 8 of 2000. of Act No. 8 No. 15 Finance Act 2014 No. 15 Finance Act 20146 (c) where the failure is for a period of more than 90 days, to a sum equal to 25% of the tax payable. (2) The Commissioner-General may waive the penalty due, where he has reasonable grounds to believe that a delay in the payment of income tax is due to circumstances beyond the taxpayer’s control and good cause is shown by application in writing by the taxpayer to the satisfication of the Commissioner-General.”