Section 59 - Requirement for Self-Assessment of Taxes
Under Section 59, every person who is registered for taxes is required to calculate and assess the amount of taxes they owe on their own. This self-assessment must be done for each tax period, and the registered person must submit a return for these taxes as outlined in Section 39 of the Act. This process ensures that taxpayers are responsible for determining their tax liabilities and reporting them accordingly.
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59. Self assessment
Every registered person shall self-assess the taxes payable under this Act and furnish a return for each tax period as specified under section 39.
