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(1) Assessment of tax is made by way of

(a) self-assessment, where a person is obliged to file a tax return; and

(b) the Commissioner-General making an assessment in other cases, including where a self-assessment is adjusted.

(2) Where a person fails to file a tax return on time, the Commissioner-General may, using best judgement and information reasonably available to the Commissioner-General, assess the person.

(3) The Commissioner-General may adjust an assessment.

(4) The Commissioner-General may make an assessment at any time, including an adjusted assessment where the Commissioner-General discovers a case of fraud, wilful default or serious omission by or on behalf of a taxpayer.

(5) Subject to subsection (4), the power of the Commissioner-General to make

(a) an original assessment expires six years from the date on which the Commissioner-General was first entitled to make the assessment;

(b) an adjusted assessment expires six years from

(i) the due date for filing the tax return that gives rise to the assessment or, if later, the date the tax return is filed where a self-assessment is adjusted;

(ii) the date on which the Commissioner-General serves the notice of assessment on the taxpayer where any other original assessment is adjusted; or

(iii) the date referred to in subparagraph (i) or (ii) in respect of the original assessment that is adjusted where an adjusted assessment is adjusted.

(6) An assessment made under this section is treated as an assessment made under the tax law that charges the person or subject matter assessed.