Filing of Tax Returns
Tax returns filing is a very important aspect of tax compliance. A Taxpayer has four (4) main obligations with regard to tax returns;
- to ensure that an appropriate return is duly and correctly filled,
- to ensure that the appropriate requisite documents are attached,
- to ensure that the return is duly signed and or certified, and
- to ensure that the return and accompanying documents are filed on time.
Key Tax Return Forms and Filing Dates & Rates
|
Tax Return |
Due Date for Return & Applicable Rates |
Penalty |
|
PAYE |
15th of the next month following payment of salary. Rates 20% & 30% & personal tax credit. |
22% pa |
|
FBT |
For Q1 14 July, for Q2 14 October, for Q3 14 January & for Q4 14 April. The FBT rate is 40%. |
22% pa |
|
Withholding |
15th of the next month following withholding of tax. |
22% pa |
|
VAT |
20th of the next month following making of taxable supplies and inputs. Standard rate 15%. |
22% pa |
|
Company tax (CIT) |
The return is due on 30th June. The standard rate is 25%. The rate of 10% on commercial farming and manufacturing |
22% pa |
|
Individual income tax (IIT) |
The return is due on 30th June. Rates: 20% & 30% & personal tax credit. |
22% pa |
|
Tobacco & Alcoholic Products Levy |
20th of the next month following sales of tobacco and alcohol. Tobacco 20% and Alcohol 10% |
22% pa |
|
Plastic Levy |
20th of the next month following sales of plastic shopping bags. Levy rate 0.90 c per plastic bag |
22% pa |
Please find Guides on the attachments below.