Article 109 - Obligation to File a Return

(1) Every QFC Entity shall for each Accounting Period file a return with the Tax Department, on or before the filing date as defined by Article 111.
(2) Every return shall be signed by the Representative of the QFC Entity filing the return and include a declaration to the effect that the return is to the best of his knowledge correct and complete.
(3) Where no return for an Accounting Period is filed by a QFC Entity on or before the filing date the Tax Department may determine, to the best of their information and belief, the amount of tax payable by that QFC Entity for the Accounting Period in question.
(4) A determination under Article 109(3) may not be made more than five years after the filing date for the Accounting Period in question.
(5) If, after a determination of tax payable has been made under Article 109(3), the QFC Entity files a return for an Accounting Period ending in or at the end of the Accounting Period specified in the notice of determination, the self-assessment in that return supersedes the determination.
(6) Article 109(5) does not apply to a return filed—
(a) more than 5 years after the day on which the power to make a determination became exercisable; or
(b) more than 12 months after the date of the determination, whichever is the later.
(7) The Tax Rules may make procedural and administrative provisions regarding the making of a determination under this Article (TAX 8).
Amended (as from 18th June 2014)