This article aims to give you, S R Auditor’s esteemed client, an overview of your obligation to file with TRA the Withholding Tax monthly statement effective from July 2021.
As of 6 August 2021, TRA announced by public notice to stay the below requirements until system upgrade of the efiling system to include an option to file the same online. Refer to TRA notice below:
The Withholding Taxes Monthly Statement can be downloaded (Download Form)
The following are some important notes:
- This requirement is mandated by the amendment of Section 84 of the Income Tax Act Cap 332 which requires Witholding tax Monthly statements to be submitted within 7 days from the end of the calendar month to which it relates.
- This update is effective July 2021. Therefore witholding tax statements for July 2021 are due before 6th August 2021.
- A NIL-statement should be filed in case no payment was made or credited or payment was made but no tax withheld for some reasons.
- Penalties are applicable for delay in submission of the above returns.
- As of July 2021, these should be filed physically at TRA offices. Ensure you maintain a copy.
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.
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