Failure to comply with notice to give information

—(1) A person who fails to comply with a request for information properly made under this Act, or a tax law , within Tax Administration and Procedure CAP. 51 87 the specified time, is liable to a penalty in an amount not exceeding two thousand five hundred dollars. (2) Before assessing a penalty under this section, the Director General shall issue a warning notice, and no penalty is due under this section if the taxpayer complies with the warning notice within three days of service of the notice.