The first instalment of provisional income tax (QPD) for the year is due on Friday 25 March 2022. This instalment (payable in the currency of trade) is calculated at ten percent of the projected annual income tax on profit from trade and investments.
The rest of the QPD dates and rates for the year are payable as set out below.
Income tax for the year is expected to be fully paid by December. If not, interest is charged on underpaid QPDs at the rate of twenty five percent per month or part thereof.
The return (ITF12B) for provisional income tax payment for the quarter must be submitted to the taxation authority on the said date.