13 - administration of tax Flashcards
1
Q
what is the common penalty regime for errors?
A
the penalty is based on the potential lost revenue which ranges from 30 to 100%
2
Q
what is PLR
A
potential lost revenue
3
Q
what is the penalty for a careless error
A
30% of PLR
4
Q
what is the penalty for a deliberate but not concealed error
A
70% of PLR
5
Q
what is the penalty for a deliberate and concealed error
A
100%
6
Q
what is the penalty if you fail to send a return
A
30%
