Cap. 406 Art. 37AAdministrative penalty for understated or assessed tax under article 12.

Where a notice of payment furnished by a person registered under article 12 contains an understatement of the tax payable in accordance with articles 21(2) and 21(3) or where the

Commissioner makes an assessment of the tax payable by that person in terms of article 33(2), that person shall become liable to an administrative penalty in an amount equivalent to twenty per cent of the understated tax payable or the assessed tax.