Type: Legislation
On 2 January 2020, Guidance Note – GN 58 on how to fill in the corporate income tax return for accounting periods ending on or after 31 December 2019 (the Guidance Note) was issued by the Income Tax Division.
The Guidance Note contains information regarding the online income tax return to be submitted by corporate taxpayers for accounting periods ending on or after 31 December 2019 and instructions on how to complete it. The information provided covers the following four areas:
- The compulsory requirement for corporate taxpayers to file the online income tax return and the statutory exemptions from this requirement to certain organizations;
- The procedure on how to register online to file the corporate income tax return;
- The procedure on how to fill in the online corporate income tax return for accounting periods ending on or after 31 December 2019; and
- Other online tax services.
Effective date: During 2019 – 2020