- 1 Marks
TAX – Nov 2020 – L1 – SA – Q10 – Withholding Tax (WHT)
Identify the penalty rate per annum for failure to deduct or remit withholding tax.
Question
A person who is obliged to deduct withholding tax but fails to deduct, or having deducted, fails to remit on the due date, shall be guilty of an offence and liable to a penalty of _________ per annum of the tax withheld or not remitted, as the case may be:
A. 25%
B. 21%
C. 15%
D. 10%
E. 5%
Find Related Questions by Tags, levels, etc.
- Tags: Nigerian Tax System, Non-compliance, WHT Penalty, Withholding Tax
- Level: Level 1
- Topic: Withholding Tax (WHT)
- Series: NOV 2020
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