ICANTaxationPersonal Income Tax: Employment Income2022

Under the PAYE system, an employer who fails to remit tax deducted from employees is liable to pay the tax plus:

AA penalty only
BInterest only
CInterest at the prevailing commercial rate and a penaltyCORRECT
DNo additional charge if remitted within the year
AI
Toaster Teacher
Why the answer is C, and why the others tempt you.
PITA makes the employer personally liable for tax deducted but not remitted, together with a penalty and interest at the prevailing commercial rate, because the employer holds the deducted sums in trust for the tax authority.
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