CAF-2 · Chapter 19 · Question 5 of 15
During a sales tax audit, a registered person realizes a short payment of tax and wishes to voluntarily deposit the evaded amount during the audit but before the issuance of a show-cause notice. How much penalty must be paid in this specific scenario?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) 25% of the penalty payable under section 33.
Explanation
If a registered person wishes to deposit the short-paid tax during the audit or at any time before the issuance of a show-cause notice, they must deposit the evaded tax, default surcharge, and 25% of the penalty payable under section 33.
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