Annual report & statement of accounts
ANNUAL REPORT & STATEMENT OF ACCOUNTS
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| ANNUAL REPORT & STATEMENT OF ACCOUNTS 28 assessments/additional assessments were processed. As a result, ten million, four hundred and seventy- seven thousand, nine hundred and fifty-four dollars ($10,477,954) in revenue were recovered. One thousand, eight hundred and sixty-six (1,866) Employers Returns (Forms II) which were submitted by employers under the PAYE system were examined, one thousand, one hundred and eighteen (1,118) were reconciled with Monthly Remittance Forms (Forms 5), and one thousand, eight hundred and thirty- three (1,830) were verified. The revenue recovered upon completion of those examinations amounted to eight million, nine hundred and seventy-eight thousand, six hundred and fifty-five dollars ($8,978,655). The examination of schedules relating to the remittance of withholding and travel voucher taxes totalled six hundred and eighteen (618) and one hundred and fifty-five (155) respectively and eighty-three (83) field visits were conducted to facilitate the examinations. Further, four thousand, one hundred and nine (4,109) flights were reconciled and analyses and reports of findings were completed for one thousand and eighty-two (1,082). Also, seventy-three (73) reports on premium tax were received and the examination of receipts and reports were conducted by staff. Revenue recovered from those activities amounted to two hundred and twenty-eight thousand, one hundred and fifty dollars ($228,150). A combined total of fifty-seven thousand, one hundred and sixty-four (57,164) notices of assessment were printed based on returns submitted for Individual Income Tax, Individual Property Tax, Corporation Tax, Company Property Tax and Capital Gains Tax. E NTERTAINMENT / COMPLIANCE CHECKS V ALUE -A DDED T AX The staff of the Section conducted nine hundred and fifty-two (952) compliance checks to ensure that VAT registrants were complying with the VAT Act and Regulations and thirty-four (34) visits to prospective voluntary VAT registrants to determine whether they met the requirements for registration under the Act. In addition, ninety-one (91) public entertainment shows were monitored and taxes recovered from such monitoring amounted to B. Download 2.59 Mb. Share with your friends:
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