Skip to content
Call Us For A Free Quote
- The quarter/instalments payment made are not final tax but credited to the final tax liability for the tax year.
- Any shortfall should be settled within 3 months after the end of the tax year.
- Any excess is applied to other tax obligations and the balance, if any, refunded if claimed.
- In the allocation of tax credit, foreign tax credits are utilized first, followed by instalments paid during the tax year and then taxes withheld which are not final taxes
- Credit not utilized or refunded can be carried forward for a maximum of 3 years and used on a first-in-first-out basis.