Jul 10, 2019

Provisional Tax for 2019

Our office would like to inform you that the deadline for the first provisional tax installment for the tax year is the 31st of July 2019.

This obligation is applicable to the following persons and is arises based on their expected annual taxable income:

  1. Individual with taxable income, other than pension, dividends, salaries and interest.

  2. Company with taxable income.

The temporary tax assessment/estimation is payable in two equal installments, before or at the following dates:

1st Installment- 31 July 2019 2nd Installment- 31 December 2019

If any installment is not paid by the end of the month following the above due dates, then an interest is chargeable (2% for 2019) and another 5% on the tax due. In addition another 5% penalty is imposing if the tax remains unpaid for the following two months after the above mention dates.

A 10% additional charge is imposed on the difference between the tax as finally determined in the relevant annual report and the temporary tax estimation when the temporary estimation is less than the 75% of the chargeable income.

Taxpayers can revised their provisional tax computation on 31st of December 2019.

Guidance for the Payment

You can visit the JCC website jccsmart.com and make the pay of the provisional tax before or at the following dates. Also, please note that overdue payments cannot be settled via JCC and can only be processed at the District Offices of the Tax Department.