- 8 Marks
Question
b) The only tool for communicating a tax liability to a taxpayer is through a notice of assessment.
Required: What are the elements of a notice of tax assessment?
(8 marks)
Answer
Where the Commissioner-General makes an assessment, the Commissioner-General is required to serve a written notice of the assessment on the taxpayer. In addition to any requirements of the tax law in question, the notice of assessment should contain:
- The name of the taxpayer.
- The Taxpayer Identification Number (TIN) of the taxpayer.
- The assessment by the Commissioner-General of the tax payable by the taxpayer for the period, event, or matter to which the assessment relates.
- The amount of tax remaining to be paid after any relevant credits, reductions, or pre-payments.
- The manner in which the assessment is calculated.
- The reason why the Commissioner-General has made the assessment.
- The date by which the tax is to be paid.
- The time, place, and manner of objecting to the assessment.
(8 points for 8 marks)
- Tags: Notice of Assessment, Tax Assessment, Tax Liability, Taxpayer
- Level: Level 2
- Topic: Tax Administration
- Series: NOV 2019
- Uploader: Cheoli