S.L. 406.18 Art. 6Deduction of remitted interest.

Where a person has benefitted from a remittance of interest under these regulations, the Commissioner may deduct the equivalent of such remitted interest amount from any interest on any refund of tax which may become due to that person within six years from the date the remittance of interest under these regulations had taken place. ANNEX A

Conditions and procedures for the Remittance of

Interests and Administrative Penalties incurred under the Acts following Conditions and Procedures shall apply to arrears of tax, administrative penalties that are due by a registered person under any of 15 October 2011.

purposes of paragraph 3 of this Annex: "total outstanding balance due" is the total balance of tax, interest administrative penalties due under each of the Acts separately for tax periods whose returns were due to be sent by the 15th October, 2011; "total interest and administrative penalties accrued" is the total interest and administrative penalties accrued under each of the Acts separately for the tax periods whose returns were due to be sent by the 15th October, 2011, less any administrative penalties and interest which were reduced by any other scheme or adjustment. "interest and penalties amount", on which the remittance referred to in this Annex shall apply, shall be computed as follows: the "total outstanding balance due" is equal to or greater than the "total amount of interest and administrative penalties accrued" then the amount, on which the remittance at paragraph 5 of this Annex shall apply, shall be the "total amount of interest and administrative penalties accrued"; the "total outstanding balance due" is less than the "total amount of interest and administrative penalties accrued" then the amount on which remittance at paragraph 5 of this Annex shall apply shall be the "total outstanding balance due": that, for the purposes of computing the remittance in terms of paragraphs Annex, sub-paragraphs (a) and (b) shall not apply. person registered under any of the Acts shall qualify for the remittance in with this Annex if:

arrears are due in accordance with paragraph 1 of this Annex; tax returns which were not submitted and which were due to be furnished by the 15 October 2011 are furnished by not later than the 15 April 2012; tax returns due on the 15 November 2011 and on the dates on which subsequent returns fall due after this date are furnished by due date, accompanied by full payment of the amount declared in the respective returns: Provided that a registered person shall remain eligible for remittance under the scheme where a tax return due by 15 November 2011, 15 December 2011, 15 January 2012, 15 February 2012, 15 March 2012 or April 2012 is furnished, with full payment if any, by not later than 15 April 2012, in which case the applicable date for the paragraph 1 of this Annex shall be deemed to be the due furnished tax return;

(d) payments to the Commissioner are effected under conditions as prescribed in this Annex; and

(e) any pending appeal before the Appeals Board, the Review Tribunal or the Court of Appeal is withdrawn by 15 April 2012.