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Knowledge Base Home | Glossary | Ask A Question Home > All Categories > Value Added Tax (VAT) > If I have cash flow problems and I cannot settle the VAT due, what would be the implications if I don’t settle the amount? If I have cash flow problems and I cannot settle the VAT due, what would be the implications if I don’t settle the amount? If the VAT return is filed with the Department without the accompanying payment, then the taxpayer is considered as not having filed the return. Monthly penalties amounting to 1 % of the tax due or Lm10 would be due. Authored by: Clive Farrugia This question has been viewed 1412 times so far. Click Here to View all the questions in Value Added Tax (VAT) category. File Attachments There are no attachment file(s) related to this question. How helpful was this article to you? Select a Vote 5 - Very Helpful 4 3 - Somewhat Helpful 2 1 - Not Helpful Related Questions I need to install a computerised point of sale system in my retail outlet instead of the customary cash register. What should I do? Can I register as an exempt person? What are the major changes for an importer under the new VAT Act since Malta has become part of the European Community? Additional Information Article Number: 27 Created: 2006-09-27 10:18 AM Rating:   Article Options Print this Question Export to PDF File del.icio.us Bookmark   Search Knowledge Base

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