- 6 Marks
TAX – Nov 2021 – L2 – Q3b – Value Added Tax (VAT)
Explanation of penalties associated with VAT non-compliance including failure to register, failure to notify of address changes, and failure to submit returns.
Question
Explain the penalties associated with the following:
i. Failure to register for VAT return (2 Marks)
ii. Failure to notify the FIRS of change of address or cessation of trade or business (2 Marks)
iii. Failure to submit VAT returns (2 Marks)
Find Related Questions by Tags, levels, etc.
- Tags: Non-compliance, Penalties, Registration, Returns, VAT
- Level: Level 2
- Topic: Value-Added Tax (VAT)
- Series: NOV 2021
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