Cap. 372 чл. 51Penalty for making incorrect returns, etc.

(1) Every person who without reasonable excuse -

(a) makes an incorrect return by omitting or understating any income of which he is required by the Income Tax

Acts to make a return; or

(b) gives any incorrect information in relation to any matter or thing affecting his own liability to tax or the liability of any other person or of a partnership; or

(c) fails to furnish a return which he is required to furnish in accordance with the Income Tax Acts, shall be guilty of an offence and shall, on conviction, be liable to a fine (multa) of not less than fifty-eight euro (58) and not exceeding four hundred and sixty-five euro (465) and, in addition, to double the amount of tax which has been undercharged in consequence of such incorrect return, or information, or would have been so undercharged if the return or information had been accepted as correct.

(2) No person shall be liable to any penalty under this article unless the complaint concerning such offence was made in the year of assessment in respect of or during which the offence was committed or within three years after the expiration thereof.

(3) The Commissioner may compound any offence under this article, and may before judgment stay or compound any proceedings thereunder.