What are the due dates for payment of duties and taxes?
- Withholding taxes are payable within seven (7) days after the end of calendar month
- Taxes payable in installments (Provisional assessed tax) payable on quarterly basis e.g in case of taxpayers whose accounting periods ends on 30th December the installments shall be due by the end of March, June, September and December.
- Self-assessed tax is payable on the date of filling the final return of income ( 6 months after the end of the year of income
- Jeopardy assessed tax is payable on the date specified on the notice of assessment
- Adjusted assessed tax is payable within 30 days from the date of assessment
Value Added Tax (VAT)
VAT is payable within 30 days following the month of business that is due date of submitting the Return
Duties and Taxes on importation of goods are payable within 30 days from the date of assessment