VAT Assessments

You have a legal obligation to submit your VAT Returns and pay any VAT you owe to IRD by the due date. If you don't submit a return IRD can issue an assessment. The assessment shows the amount of VAT that IRD believes you owe, based on their best estimate.

If after an assessment is presented to you, and you still don't file the correct return and pay the tax as determined in the assessment, IRD will commence its collection and enforcement actions, which include further financial penalties, publication of your name in the local newspapers for non-compliance, garnishment of your income, closure of your business and legal actions.