The fiscal year is the calendar year.
Tax returns and payment of tax
WHTs are due by the 15th day of the month following the withholding month.
Individuals subject to personal business income tax based on actual revenues should file the tax form by 31 March of the year following the end of the fiscal year.
They should pay the tax due in in the following three instalments:
- 40% by 31 March.
- 30% by 30 June.
- The balance by 30 September.
Individuals subject to the lump-sum personal business income tax regime will be required to declare and pay the tax due by 31 March of the year following the end of the fiscal year.
Statute of limitations
The tax audit is subject to three-year limitation.
Topics of focus for tax authorities
Tax authorities are focused on the benefit in kinds and some other indemnities. They look after the total payroll and compare it with total of returns.