Updated: Dec 29, 2022
All persons must furnish the return of total income in response to a notice issued by the DGIR. Although the general provisions indicate that the DGIR requires returns and information, this authority can be delegated by him/her to his/her subordinates.
The return form is prescribed and requires a taxpayer engaged in employment, business, profession or vocation to furnish the full particulars mentioned.
The main forms are:
Form B (CP 4A) and Form BE (CP 4B) for individuals
Form C (CP 5) for companies
Form P (CP 3) for partnerships
Form M (CP 54) for non-resident individuals
Tax Return Deemed Notice of Assessment
The tax return submitted by the taxpayer under the self-assessment system (SAS) is deemed to be a notice of assessment served on the day the return is furnished to the IRB (s 90 ITA 1967).
Filing Individual Tax Returns
Every individual must furnish a tax return if he/she has chargeable income for a year of assessment.
An individual who has no chargeable income for a particular year of assessment is required to furnish a tax return if that individual:
has chargeable income for the previous year of assessment
has furnished a return for the previous year of assessment, or
has been required to furnish a return (but failed to furnish that return) for the previous year of assessment (s 77 of the Income Tax Act 1967 (ITA 1967)).
Individuals and their spouses must file separate tax returns regardless of whether these are based on a separate or combined assessment.
The responsibility of determining the correctness of the information disclosed in the tax return, computing the chargeable income and tax liability, and making tax payments in accordance with the tax computed lies with the taxpayer.
In the tax return furnished, the taxpayer must indicate whether the IRB’s public rulings have been complied with in making the return.
Filing Company Tax Returns
Every company must furnish a tax return to the DGIR in the prescribed form for each year of assessment.
The tax return must be furnished within 7 months following the closing of the company’s accounting period. [s 77A(1) of the Income Tax Act 1967 (ITA 1967)].
Companies are required to file their tax returns electronically to the DGIR.
The tax returns must be based on accounts audited by approved company auditors. From YA 2022, all entities (i.e. limited liability partnerships, trust bodies, cooperative societies) are required to furnish tax returns based on financial statements prepared in accordance with any written law (s 77A(4)).
Tax Return Form Filing Programme for the Year 2023
However, as an administrative concession, grace periods are allowed by IRB as below:
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