Section 32: Assessments

(1) Where- (a) a person fails to lodge a return under section 31; (b) the Commissioner General is not satisfied with a return lodged by a person; or (c) the Commissioner General has reasonable grounds to believe that a person will become liable to pay tax but is unlikely to pay the amount due, the Commissioner General may make an assessment of the amount of tax payable by that person. (2) An assessment under subsection (1)- (a) where fraud, or gross or wilful neglect has been committed by, or on behalf of, the person, may be made at any time; or (b) in any other case, shall be made within five years after the date on which the return was lodged by the person. (3) The Commissioner General may, based on the best information available, estimate the tax payable by a person for the purposes of making an assessment under subsection (1). (4) Where a person is not satisfied with a return lodged by that person under this Act, that person may apply to the Commissioner General to make any addition or alteration to the return. (5) An application under subsection (4) shall be in writing and shall specify in detail the grounds upon which it is made and shall be made within three years after the date on which the return was lodged by the person. (6) After considering an application under subsection (4), the Commissioner General shall make an assessment of the amount that, in the Commissioner General's opinion, is the amount of tax payable under this Act. (7) Where an assessment has been made under this section, the Commissioner General shall serve notice of the assessment on the person assessed, which notice shall state- (a) the tax payable; (b) the date the tax is due and payable; (c) an explanation of the assessment; and (d) the time, place and manner of objecting to the assessment. (8) The Commissioner General may, within the time limits set out in subsection (9), amend an assessment as the Commissioner General considers necessary, and the Commissioner General shall serve notice of the amended assessment on the person assessed. (9) The time limit for amending an assessment is- (a) where fraud, or gross or wilful neglect has been committed by, or on behalf of, the person assessed in respect of the period of assessment, any time; and (b) in any other case, within three years after service of the notice of assessment. (10) An amended assessment is treated in all respects as an assessment under this Act.