So I have been really stupid for the past two years. Every time it came to doing my income tax return, I was too busy and plan forgot. However, the inland revenue still managed to send me a tax bill, so I thought all was well.
However, I have now been slapped with a court summons for failure to provide a tax return.
My question is, what will happen? Am I about to be slapped with a massive fine or will it be just the difference for what I haven't paid? Is this going to be really bad or just a slap on the wrist?
Please advise as I am a bit worried.
Thanks You.
                                
                                
                             
                            
                                
                                
                                
                            
                         
                        
				
                            
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                                    You are liable for a fine up to 3 times of tax not paid.  So, depends very much on amount of tax you have to pay.
                                
                                
                             
                            
                                
                                
                                
                            
                         
                        
				
                            
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                                    are you talking about HK IRD or another country?
                                
                                
                             
                            
                                
                                
                                
                            
                         
                        
				
                            
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                                    @STEPHEN LO
The thing is, I have paid taxes. I paid the bill they sent every year. So is the fine going to be what was not accurately worked out i.e. the difference, or a full tax bill?
BTW, thanks for the replies. It is much appreciated.
                                
                                
                             
                            
                                
                                
                                
                            
                         
                        
				
                            
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                                    From what you have said, you have not filed tax return and IRD sent you and estimated assessment.  However, IRD has the right to compel you to file tax return / provide information / conduct field audit etc.
You will be liable to fine up to 3 times of the difference short paid only.
Let say you paid $10,000 tax last year but what you actually should pay was $15,000, you will have to pay the difference $5,000 plus a maximum fine of $15,000 (3 x $5,000).  Usually the fine will be 1 to 2 times if you are cooperative and send the information as requested within the time specified.
                                
                                
                             
                            
                                
                                
                                
                            
                         
                        
				
                            
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