Tag - provisionaltax

July 2023



We would like to remind you that the payment deadline for the 1st provisional tax instalment for tax year 2023 is the 31st of July 2023. Obligation for provisional tax payment The following persons have an obligation to pay provisional tax, based on their expected annual taxable income for tax year 2023: Individuals with taxable income other than salaries, pensions, dividends and interest, and Companies with taxable income. Payment of provisional tax The provisional tax is calculated by applying the relevant tax rates (depending on whether the taxpayer is an individual or a company) on the expected taxable income for the year, after taking into account any overseas tax credits. It is payable in two equal instalments, as follows: 1st...