Debt warehousing
Removal from warehouse
If you fail to file and pay your current taxes as they fall due, this may result in your removal from the Warehouse. Where you are removed from the warehouse, periods which had been warehoused:
- will become payable immediately
- may be subjected to debt collection enforcement action
- and
- will be subject to interest charges of 8% or 10% per annum.
In addition, your Tax Clearance Certificate (TCC) will be automatically rescinded. Consequently, any Government support payments or grant aid will cease until your compliance issues are rectified.
Next: Repayment of warehouse debt