SCHEDULES
SCHEDULE 2Management and Collection of Petroleum Revenue Tax
Returns by the responsible person
6
1
If the responsible person fails to deliver a return within the time allowed for doing so under paragraph 5(1) above he shall be liable—
a
to a penalty not exceeding £500, and
b
if the failure continues after it has been declared by the court or Commissioners before whom proceedings for the penalty have been commenced, to a further penalty not exceeding £100 for each day on which the failure so continues.
2
The responsible person shall not be liable to any penalty incurred under sub-paragraph (1) above for failure to deliver a return if the failure is remedied before proceedings for the recovery of the penalty are commenced.