Payment Problems

How You Can Help Yourself

As a VAT registered Taxpayer, you need to ensure that you submit your VAT Return on or before the 21st of every month, along with any outstanding VAT due. If you don't, you will receive an automatic penalty for late filing and late payment. So if you think you won't be able to pay your VAT by the due date, you should act immediately. There are several things you may be able to do to help yourself, and the Inland Revenue Department is also there to help you.

There are times when you are unable to file and pay on time you should write to the Inland Revenue Department before the deadline for filing and request permission to file your VAT return at a later date, stating the reason for your request. If approved, the late filing penalty will be waived but the late payment penalty and interest charges would still be levied. You may consider paying a fraction of the amount that is due since the late payment penalty and interest would only be calculated on the outstanding balance.