Persistent Misdeclaration Penalty

Persistent Misdeclaration Penalty
A persistent misdeclaration penalty is used in the collection of value-added tax (VAT) to address significant inaccuracies in VAT returns, coupled with a trader's prior record of errors.
Tax Penalties
Penalties imposed by tax authorities for failing to meet statutory tax requirements, differing for income tax, corporation tax, and value-added tax (VAT).

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