The Assessing Section is responsible for generating assessments based on amounts declared on Returns/Remittances submitted to the Inland Revenue Division by Taxpayers and for generating Estimated Assessments for Taxpayers who default in filing a return in respect of all Tax Types/Licenses under the administration of Inland Revenue Division.
The duties of the Assessing section can be summarized as follows:
- Produce Remittances in respect of all Tax Types/Licenses that are then forwarded to Taxpayers to be filed by the due dates
- Process Returns/Remittances in respect of all Taxpayers that have filed in order to generate assessments from the information declared on these returns. The assessments are then forwarded to the Taxpayers to inform them of their tax position for the respective tax period
- Production of Reminders to be forwarded to all Taxpayers who have failed to submit Returns/Remittances
- Generate Estimated Assessment on behalf of Taxpayers who have failed to submit Returns/Remittances
- Process tax adjustment requests from Taxpayers employed by the private sector
- Produce Installment Notices to be forwarded to Companies and Individuals with business income for the purpose of prepayments of tax
The Assessing Section is an important department in the process of administering the Income Tax Laws and other regulations under the portfolio of the Inland Revenue Division. It is the process of assessing all taxpayers under the respective Tax Types/Licenses that may lead to the department of collections if there is a balance of tax owed to the Government.