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ORDINANCE |
PENALTY PROVISIONS
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(I) | Inland Revenue Ordinance
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| Where any tax is in default, Commissioner of Inland Revenue (CIR) may at his discretion impose a fine.
| A sum or sums not exceeding 5% in all of the amount in default to be added to the tax.
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| Where on the expiry of a period of 6 months from the date when any tax is deemed to be in default, CIR may impose a fine.
| A sum or sums not exceeding 10% in all of the unpaid amount to be added to the unpaid amount.
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| (II) | Travel Agent Ordinance
Travel Industry Compensation Fund
(Amount of Ex Gratia Payments and Financial Penalty) Rules
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| Travel Industry Compensation Fund Management Board may impose on the travel agent concerned a financial penalty.
| - $10,000 as regards a failure to pay levy.
- $50,000 as regards a second failure within the period of 2 years beginning on the date of a previous failure.
- $100,000 as regards a third or any subsequent such failure with the period of 2 years referred to in (b).
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| (III) | Pneumoconiosis (Compensation) Ordinance
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| If levy or surcharge is not paid to the Pneumoconiosis Compensation Fund Board within the prescribed time, the Board may impose a fine.
| 5% of the amount unpaid.
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| If levy or surcharge including penalty above is not paid within 3 months after the expiry of the prescribed period, another fine may be imposed.
| $1,000 or 5% of the amount unpaid, whichever is greater.
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