Where tax withholders have failed to withhold tax at the source or have failed to pay the withheld tax to the government within the payment period, the penalty tax applied is the large of
ⅰ) An amount that multiplies 0.03% by the number of unpaid days(limited to 10% of unpaid tax)ⅱ) An amount equivalent to 5% of unpaid tax
Also, where a corporation has failed to submit a payment statement or where the details of transactions submitted by the company are found to be unclear, an amount equivalent to 2% of the amount of the transactions in the reports not submitted or unclear is assessed as penalty tax.
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