What happens if I fail to pay the amount stated in the tax return or tax assessment form within the specified time period?

You will incur a late payment penalty as follows: 

• 2% of the unpaid tax is due immediately.

• 4% of any amount still unpaid is due on the seventh day following the deadline for payment.

• 1% daily penalty will be charged on any amount that is still unpaid one calendar month after the deadline for payment, up to a maximum of 300%.