How long does the 'late return period' last?

The 'late return period' refers to the timeframe during which a taxpayer can still submit a tax return after the original due date, but may be subject to penalties or other consequences for missing the deadline. In the context of indirect tax, the late return period typically lasts for 12 months from the original due date.

This 12-month period allows taxpayers some flexibility to rectify their tax reporting obligations without facing immediate consequences, thereby providing a balance between compliance and the ability to address unforeseen circumstances that may have prevented timely submission. Understanding the duration of this period is crucial for managing tax liabilities effectively and ensuring compliance with tax regulations.