Down Load Tax Calendar 2011
Down Load Tax Calendar 2010
Down Load Tax Calendar 2009

TAX CALENDAR – 2012 (Last Dates for Return filing & Payments)
January	01st* 15th* 15th* 15th* 20th 20th 20th 20th 20th 31st	Betting & Gaming Levy – 4th Quarter 2011/12 PAYE – December 2011 WHT Deducted – December 2011 Stamp Duty Compounded – 4th Quarter 2011 VAT Return & Payment (Monthly) – December 2011 VAT Return & Payment (Quarterly) – 4th Quarter 2011 VAT on Financial Services - Payment – December 2011 ESC Payment – 2011/12 3rd Quarter NBT – final payment & return - 4th quarter 2011 VAT on Financial Services - Return - 2nd half 2011
February	15th 15th 15th 20th* 20th* 20th* 20th*	PAYE – January 2012 Income Tax – 3rd Instalment of Y/A 2011/12 WHT Deducted – January 2012 VAT Return & Payment (Monthly) – January 2012 VAT Payment (Quarterly) – 1st Instalment of 1st Quarter 2012 VAT Payment – VAT on Financial Services – January 2012 NBT – 1st payment - 1st quarter 2012
March	15th 15th 20th 20th 20th 20th	PAYE – February 2012 WHT Deducted – February 2012 VAT Return & Payment (Monthly) – February 2012 VAT Payment (Quarterly) – 2nd Instalment of 1st Quarter 2012 VAT Payment – VAT on Financial Services – February 2012 NBT – 2nd Instalment – 1st Quarter 2012
April	01st* 15th* 15th* 15th* 20th 20th 20th 20th 20th 30th	Betting & Gaming Levy – 1st Quarter 2012/13 PAYE – March 2012 WHT Deducted – March 2012 Stamp Duty Compounded – 1st Quarter 2012 VAT Return & Payment (Monthly) – March 2012 VAT Return & Payment (Quarterly) – 1st Quarter 2012 VAT Payment – VAT on Financial Services – March 2012 ESC Return & Payment – 2011/12 4th Quarter NBT – Final Payment – 1st Quarter 2012 PAYE Annual Declaration by Employers – 2011/12
May	15th 15th 15th 20th* 20th* 20th* 20th*	PAYE – April 2012 Income Tax – 4th Instalment of Y/A 2011/12 WHT Deducted – April 2012 VAT Return & Payment (Monthly) – April 2012 VAT Payment (Quarterly) – 1st Instalment of 2nd Quarter 2012 VAT Payment – VAT on Financial Services – April 2012 NBT – 1st Payment – 2nd Quarter 2012
June	15th 15th 20th 20th 20th 20th	PAYE – May 2012 WHT Deducted – May 2012 VAT Return & Payment (Monthly) – May 2012 VAT Payment (Quarterly) – 2nd Instalment of 2nd Quarter 2012 VAT Payment – VAT on Financial Services – May 2012 NBT – 2nd Payment – 2nd Quarter 2012
July	01st* 15th* 15th* 15th* 20th 20th 20th 20th 20th 31st	Betting & Gaming Levy – 2nd Quarter 2012/13 PAYE – June 2012 WHT Deducted – June 2012 Stamp Duty Compounded – 2nd Quarter 2012 VAT Return & Payment (Monthly) – June 2012 VAT Return & Payment (Quarterly) – 2nd Quarter 2012 VAT Payment – VAT on Financial Services – June 2012 ESC Payment – 2012/13 1st Quarter NBT – Final Payment & Return – 2nd Quarter 2012 VAT Return – VAT on Financial Services – 1st half 2012
August	15th 15th 15th 20th 20th 20th 20th	PAYE – July 2012 Income Tax – 1st Instalment of Y/A 2012/13 WHT Deducted – July 2012 VAT Return & Payment (Monthly) – July 2012 VAT Payment (Quarterly) – 1st Instalment of 3rd Quarter 2012 VAT Payment – VAT on Financial Services – July 2012 NBT – 1st Payment – 3rd Quarter 2012
September	15th 15th 20th 20th 20th 20th 30th*	PAYE – August 2012 WHT Deducted – August 2012 VAT Return & Payment (Monthly) – August 2012 VAT Payment (Quarterly) – 2nd Instalment of 3rd Quarter 2012 VAT Payment – VAT on Financial Services – August 2012 NBT – 2nd Payment – 3rd Quarter 2012 Income Tax Final Payment – Y/A 2011/12
October	01st 15th 15th 15th 20th* 20th* 20th* 20th* 20th* 30th	Betting & Gaming Levy – 3rd Quarter 2012/13 PAYE – September 2012 WHT Deducted – September 2012 Stamp Duty Compounded – 3rd Quarter 2012 VAT Return & Payment (Monthly) – September 2012 VAT Return & Payment (Quarterly) – 3rd Quarter 2012 VAT Payment – VAT on Financial Services – September 2012 ESC Payment – 2012/13 2nd Quarter NBT – Final Payment & Return – 3rd Quarter 2012 15% Tax on Distributable Profits of 2011/12
November	15th 15th 15th 20th 20th 20th 20th 30th	PAYE – October 2012 Income Tax – 2nd Instalment of Y/A 2012/13 WHT Deducted – October 2012 VAT Return & Payment (Monthly) – October 2012 VAT Payment (Quarterly) – 1st Instalment of 3rd Quarter 2012 VAT Payment – VAT on Financial Services – October 2012 NBT – 1st Payment – 4th Quarter 2012 Income Tax Return – Y/A 2011/12
December	15th* 15th* 20th 20th 20th 20th	PAYE – November 2012 WHT Deducted – November 2012 VAT Return & Payment (Monthly) – November 2012 VAT Payment (Quarterly) – 2nd Instalment of 3rd Quarter 2012 VAT Payment – VAT on Financial Services – November 2012 NBT – 2nd Payment – 4th Quarter 2012

* Please note that, as the due date falls on a non working day (public or bank holiday) please make arrangements to pay or comply on or before that date.

Discount on Income Tax payable by Individuals
Any individuals who makes any quarterly self-assessment income tax payment, one month before the due date, is entitled to a 10% discount thereon (not exceeding such percentage on the installment based on the current year profits).

Illustration – I
Assume that your income tax liability (as an individual) for the year of assessment 2010/11 is Rs. 200,000/-. Then, under normal circumstances you may make quarterly self-assessment income tax payments for the year of assessment 2011/12, as follows:

15th August 2011: 200,000 x ¼ 15th November 2011: 200,000 x ¼ 15th February 2012: 200,000 x ¼ 15th May 2012: 200,000 x ¼	= = = =	50,000 50,000 50,000 50,000
	200,000

However, if you make above payments one month before the respective stipulated dates, you are entitled to a 10% discount thereof (based on current year liability) and payments could be made as follows.

15th July 2011: (200,000 x ¼) less 200,000x ¼ x10% 15th Oct 2011: (200,000 x ¼) less 200,000x ¼ x10% 15th January 2012: (200,000 x ¼) less 200,000x ¼ x10% 15th April 2012: (200,000 x ¼) less 200,000x ¼ x10%	= = = =	45,000 45,000 45,000 45,000
	180,000

 

If your income tax liability for the year of assessment 2011/12 is Rs. 250,000/-, 
then, the balance tax payable for that year of assessment, on or before September 30, 2012, is as follows:

Total Income Tax payable for the Y/A 2011/12 Less: Total of Quarterly self-assessment tax payments made         Discount 200,000 x 10% (already deducted)	180,000 20,000	250,000 (200,000)
Balance Tax payable on or before September 30, 2012		50,000

Illustration – II
Assume that your income tax liability (as an individual) for the year of assessment 2010/11 is Rs.200,000/-.
Then, under normal circumstances you may make quarterly self-assessment income tax payments on the basis of that liability for the year of assessment 2011/12 as follows:

15th August 2011: 200,000 x ¼ 15th November 2011: 200,000 x ¼ 15th February 2012: 200,000 x ¼ 15th May 2012: 200,000 x ¼	= = = =	50,000 50,000 50,000 50,000
	200,000

However, if you make above payments one month before respective stipulated dates, you will be entitled to a 10% discount thereof (based on current year liability) and payments could be made as follows.

15th July 2011: (200,000 x ¼) less 200,000x ¼ x10% 15th Oct 2011: (200,000 x ¼) less 200,000x ¼ x10% 15th January 2012: (200,000 x ¼) less 200,000x ¼ x10% 15th April 2012: (200,000 x ¼) less 200,000x ¼ x10%	= = = =	45,000 45,000 45,000 45,000
	180,000

 

If your income tax liability for the year of assessment 2011/12 is Rs. 150,000/-,  then the refund for that year of assessment, is computed as follows.

Total Income Tax payable for the Y/A 2011/12 Less: Total of Quarterly self-assessment tax payments         Discount 150,000 x 10% (entitled)	180,000 15,000	150,000 (195,000)
Refund due for the Y/A 2011/12		(45,000)

Please note that the discount is limited to 10% of the current year tax liability.