INCOME TAX ACT 1967 (ACT 53)
PART IV - PERSONS CHARGEABLE




Section 75. Companies and bodies of persons.


(1) Notwithstanding anything to the contrary to this Act or any other written law, the responsibility for doing all acts and things required to be done by or on behalf of a company or body of persons for the purposes of this Act including the payment of tax shall lie jointly and severally-
[Am. Act 619:s.6]
(2) The liquidator of a company which is being wound up shall not distribute any of the assets of the company to its shareholders unless he has made provision (in so far as he is able to do so out of the assets of the company) for the payment in full of any tax which he knows or might reasonably expect to be payable by the company under this Act or to be deductible by the company under section 107.

(3) Any liquidator who fails to comply with subsection (2) shall be liable to pay a penalty equal to the amount of the tax to which the failure relates.

(4) Subsection 125 (2) shall apply to a penalty imposed by subsection (3) of this section as it applies to a penalty imposed by subsection 112 (3) or 113 (2).



Related reading:
[Act 619:s.6]


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