Taxpayers have several important responsibilities under taxation law. These include:
Filing Tax Returns
Individuals and businesses are required to report their income to the government by filing a tax return. This document provides details of all the income earned over a specific period and helps determine how much tax is owed.
Paying Taxes on Time
Taxes must be paid within the deadlines set by the government. Failing to pay taxes on time can result in penalties or legal action.
Following the Rules
It is the taxpayer’s responsibility to understand and follow tax laws. This includes keeping accurate records of income and expenses, making honest declarations, and paying the correct amount of tax.