When to pay tax?
The due date for payment of profits tax depends on a number
of factors including: (a) whether it is a current year of assessment (b)
when the taxpayer files the tax return, (c) when the tax return is processed
by the IRD officer, (d) the date of issue of the assessment, (e) whether it
is an urgent case, e.g. the taxpayer has been broke, (f) whether provisional
tax is demanded and (g) which category of accounting date ('N', 'D' or 'M')
does the case belong to. Press here for details of
category of accounting date. Only one due date is set for back-years
assessment. For current-year assessment, two due dates are normally set for
'D” and 'M' cases where provisional tax is demanded. The general practice is
'D' code - Two due dates are set in December to May if the
assessment is issued before early November and thereafter one due date.
'M' Code -Two due dates are set in December to May if the
assessment is issued before early February and thereafter one due date.
'N' Code - One due date in November.