Corporate Income Tax is a tax that is charged on profits generated by the company and other corporate bodies in a given year of assessment. It is a direct tax administered under the Income Tax Act of 1993 (as amended).
Provisional Tax
This is tax paid ahead of the financial year end, usually in three (quarterly) installments. This helps ease the burden of paying the taxes due as a lump sum at the end of the financial year, with the client adding a little more to his payment if he had been under assessed and where the taxpayer had been over assessed, a refund will be made.
Advanced Corporation Tax (ACT):
This is a tax arising as consequence of distributions of dividends by a company and is not imposed on the company but on shareholders receiving such dividends.
Corporate Income Tax (CIT) and Personal Income Tax (PIT): the tax is collected quarterly while the assessment thereof is performed annually. Find the guide on the attachments below
| Attachment | Size |
|---|---|
| Advanced Corporation Tax Guide.pdf | 61.43 KB |
| Corporate Income Tax Guide.pdf | 85.74 KB |
| FBT Public Ruling.pdf | 3.18 MB |
| Guideline on Technical Services.pdf | 144.35 KB |
| INCOME TAX REGULATIONS NO.17 OF 2020.pdf | 24.37 KB |
| Income Tax Act 1993 Updated up to 1 April 2012.pdf | 663.4 KB |
| Income_Tax_Order_1993_ Explanatory_ Memo.pdf | 697.63 KB |
| PAYE GUIDE.pdf | 206.4 KB |
| Provisional tax guide_2018.pdf | 1.88 MB |
| Tax registration guide_2017.pdf | 1.88 MB |
| Taxation of Foreign Nationals.pdf | 809.81 KB |
| Withholding Tax Guide.pdf | 2.74 MB |