For businesses that have their financial year ending on 31 December, the deadline to submit the return of income and financial statements is 30 June.
As we approach the deadline to submit the return of income for any year and the financials for the year ended 31 Dec, it is likely that some businesses, for various reasons, may not be able to meet the deadline.
Click here for a draft letter for an application for extension as required by the Tax Administration Act, 2015 (read summary below).
Amend the text in red with your details. Ensure the letter is submitted to TRA by or before 15 June. Send us a copy of the same for our records.
As per section 39 of the Tax Administration Act, 2015, a person who is required to file a tax return under a tax law may apply to the Commissioner General for an extension of the time by which the return should be filed.
The application has to be in writing and has to be made fifteen (15) days before the due date for filing the return.
The Commissioner General, (TRA), upon receipt of the written application, may extend the extend the time upon which the return has to be filed.
The maximum extension of time to file the return will not exceed thirty (30) days from the due date of filing the return.
It has to be noted that the granting of an extension under this section will not alter the date for payment of tax as specified in the tax law under which the return is filed.
For professional tax advice and to understand what the new budget means for your business, connect with us.
DISCLAIMER
As always, anything on this site should not be relied upon in place of appropriate professional advice. Laws may change from time to time.