Tax Filing Programme For Calender Year 2013

The Inland Revenue Board (IRB) has issued the filing programme for calendar year 2013. The grace period of 15 days still applies for E-filing and payment of balance of tax payable under subsections Section 103(1) of Income Tax Act 1967.

Reduce Late Filing Penalty under Section 112(3) Income Tax Act 1967

To reward taxpayer submit their tax using E-filing, IRB will reduce penalty for late submission of tax return by 5% if taxpayer file their tax return through E-filing.

Currently, IRB imposed a 20% to 35% penalty on taxpayers who are late submitting their tax returns.

Additional time for Tax Payment 

Normally, tax assessment raised under the following sections must be paid within 30 days from the date of the Notice of Assessment. 

Section 91	Assessment and additional assessments in certain cases
Section 92	Advance Assessment
Section 96A	Composite Assessment
Section 90(2A)	Where return deemed a notice of assessment
Section 90 (3)	Assessment by Director General
Section 101 (2)	Written agreement as to assessment

Now, IRB will granted additional 7 days for tax payment.

Tax Filing Programme 2013. 

Source: Inland Revenue Board