Article 23 – Tax Assessment

1. The Authority shall issue a Tax Assessment to determine the value of Payable Tax, Refundable Tax or any other matters as prescribed by the Tax Law or the Executive Regulation and notify the Taxpayer within (10) ten Business Days of its issuance in any of the following cases:

1. The Taxable Person failing to apply for registration within the timeframe specified by the Tax Law;
2.  The Registrant failing to submit a Tax Return within the timeframe specified by the Tax Law;
3.  The Registrant failing to pay the Tax stated as Payable Tax on the Tax Return that was submitted within the period specified by the Tax Law;
4.  The Taxable Person submitting an incorrect Tax Return;
5.  The Registrant failing to calculate Tax on behalf of another Person when he is obligated to do so under the Tax Law;
6. There being a shortfall in Payable Tax as a result of a Person evading Tax, or as a result of a Tax Evasion in which such Person was involved;
7. Any other cases in accordance with the Tax Law.

2. If it is not possible to determine the actual amount of Due Tax or correctness of the Tax Return, the Authority may issue an estimated Tax Assessment to assess the Payable Tax and the Refundable Tax, and in which case the Authority shall:

1. Amend the estimated Tax Assessment issued pursuant to this Article, where new relevant information surfaces which affects the Tax Assessment, and
2. Notify the concerned Person of such amendments within (10) ten Business Days from the date of amendment.

3. The Executive Regulation shall  specify the  information or  data  that must  be included in the Tax Assessment.