Every registered company and individuals who are required to prepare the audited account shall file to TRA a statement which shows the estimated tax payable in each year of income.
Used by entities: ITX 202.01.E ESTIMATES – Entity form
Statement of estimate/revised estimate of tax payable by instalment made on behalf of an entity.
Used by individuals: ITX 200.01.E Estimates – individuals
Statement of estimate/revised estimate of tax payable by instalment made by an individual
The statement of estimated tax payable shall be submitted to TRA office either of the following dates depending on your accounting period:
i. On or before 31st March
ii. On or before 30th June
iii. On or before 30th September
iv. On or before 31st December
The payment of first instalment tax is due when the statements of estimated tax payable (provisional returns) are submitted, and then other instalments shall be paid on due dates above.
Late payment of tax: Shall be charged interest at the prevailing statutory rate at the time of imposition plus 5% per annum