All VAT registered businesses are required by law to file their VAT returns and to pay any VAT due by specific deadlines. Failure to meet these deadlines is known as a 'default' and can lead to penalties.
If the tax return was not filed on time, the financial authority may impose a penalty of 0.05% of the VAT due for each day the return is late. The
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Web page updated on 17 Mar 2025 16:49