tax for the first quarter of the year and hotel occupancy tax for March.

Corporate services tax returns for the first quarter were also due.

Anyone who missed yesterday's cut-off will have to reach further into their pockets to pay penalties, Tax Commissioner Brian Dasilva has warned.

And any returns filed without payment or with only part-payment will also be assessed with additional tax or penalty at five percent of the unpaid tax.

The Office of the Tax Commissioner has run several prominent adverts to ensure no taxpayers could claim ignorance on the matter -- and warn of the hefty fines for those who fail to get their returns in on time.

The taxman also wants to remind the self-employed and deemed employees that their notional remuneration has grown by 2.1 percent because of the indexing provisions.

Contractors, doctors, dentists, farmers, fishermen, taxi drivers, plumbers, electricians, working partners and shareholder-managers all fall under this category.

People in these occupations must report the greater of their indexed notional or actual incomes.

For any further information contact the Tax Commissioner's office at 297-7750 or 297-7751 or 297 7891.

SHENHUA DELAYS BUY-UP OF SHARES BUC Shenhua delays buy-up of shares Chinese investment company Shanghai Shenhua Industrial Co. has delayed the buy-up of shares of Bermuda-incorporated Chinese mini-bus maker Brilliance China Automotive Holdings Ltd.

The company also revealed yesterday news that NYSE-listed Brilliance China had indirectly acquired a 15.19 percent stake in Shenhua from its biggest shareholder, J&A Investment Co.

The delay follows Shenhua's announcement last month that it intended to buy the stake in Brilliance China at a much higher price than was expected.

The company's $114.28 million plan to buy a 51 percent stake in Brilliance was originally scheduled to be submitted to shareholders for approval next Monday.

But Shenhua released a statement yesterday that the buy-out was no longer on track for that meeting.

The delay would "allow investors to know more about the purchase plan, make the plan more compatible with present laws and rules and protect the interest of shareholders and investors,'' the statement said.

But a spokesman from Shenhua insisted the company remained committed to the original plan at a later date, although he declined to make the new timetable public.

"We decided to give a grace period for investors to learn more about the purchase,'' he said.

WATLINGTON REPORTS EARNINGS RISE BUC Watlington reports earnings rise Watlington Waterworks Ltd. this week reported to the Bermuda Stock Exchange that its 1998 earnings rose 31 percent to $534,507 on 1997 results.

Earnings per share for the company which supplies water and purified water to Bermuda increased 11 cents from 36 cents in 1997 to 47 cents in 1998.

Total assets for the period declined to $10.97 million from $11.32 million the year before.

Dividends paid for the entire 1998 year increased by a massive 240 percent to $136,520 from $39,818 in 1997.

Shareholders' equity also grew to $7.2 million from $6.8 million the previous year.

ST. GEORGE'S CLUB WINS AWARD BUC St. George's Club wins award A Bermudian condominium has been recognised for its excellent service and facilities by an international company.

The St. George's Club has won the coveted Gold Crown Resort title from Resort Condominiums International a major international timeshare exchange company.

"The St. George's Club exemplifies excellence in our industry,'' RCI president Ron Jackson said.

"It provides quality service and quality environment enhancing the value of the timeshare vacation experience for everyone.''