of provisional profits tax
The taxpayer can apply for
hold-over on the following grounds:
actual profits are likely less than 90% of the provisional assessable profits
assessed. On this ground, the
taxpayer has to provide certified management accounts covering at least 8
months of the basis period.
Loss brought forward is omitted
The taxpayer has ceased
The taxpayer (who is a
sole-proprietor or a partner) elects for Personal Assessment.
has objected to the prior-year assessment.
Notice of hold-over should be given to IRD at least 28 days before the
due date or within 14 days after the date of the demand for payment,
whichever is the later.