Late filing of tax return

—(1) A person who fails to file on or before the due date, a statement of emoluments, business tax return or withholds contract tax, is liable to the administrative penalty listed in Schedule IV to this Act. Schedule IV. (2) The amount of the penalty in sub-section (1) is limited to ten thousand dollars. (3) The penalty under this section is treated as an addition to the tax liability for the tax period to which the return relates, and may be assessed and collected in the same manner as the tax for that period.