The first installment of provisional income tax for this year is due on Thursday 25 March 2021. This installment (which is payable in the currency of trade) is calculated at ten percent of the projected annual tax from trade and investment. The rest of the QPDs for the year are payable as set out below.
- First QPD – 10 percent payable on 25 March
- Second QPD – 25 percent payable on 25 June
- Third QPD – 30 percent payable on 25 September
- Fourth QPD – 35 percent payable on 20 December
Income tax for the year is expected to be fully paid by end of December. If not, interest is charged on underpaid QPDs where the margin of error on projected taxable income exceeds ten percent.
The returns (ITF12B) for provisional tax payment for the quarter must be submitted to the taxation authority on the said dates.