Extension of up to additional six months possible if conditions met. Federal CIT is usually due by 31 March of the following tax period. If a short-year or fiscal-year 20YY return is due before DrakeYY has been released, there are a couple options detailed below. 1704 Download (Zipped Excel) | Improperly Accumulated Earnings Tax Return For Corporations. When the last day of the tax year is not the last day of a month, file the return by the same day of the sixth month Second week of fifth month after the fiscal year ends. June 30 fiscal year-end returns are due by the 1st day of the 4th month following the close of the taxable year or the 15th day after the federal due date. Quarterly instalments are due by the 25th day of the first month following the first, second, and third quarters. Do Corporations With No Transactions Need to File Taxes? Within seven months after the financial year-end of the company. Within one month after the service of the notice of assessment. If you need more time to lodge. 15 June [15%], 15 September [45%], 15 December [75%], 15 March [100%]). 25th day of the third month following the end of the tax period (e.g. Two equal instalments are due in the sixth and the 12th month of the accounting period. 1. Exception: if the filing date is extended beyond 30 June, a provisional invoice based on the last assessment will be delivered. 31 December for companies with financial year end 30 June, and 30 September for companies with financial year end 31 December. For annual CIT filing, within five months following the end of the tax year. By the end of the fourth month following the date of the fiscal year-end. Lets clarify a couple of scenarios: When the corporation's tax year end is on the last day of a month, the return is due by the last day of the 6th month after the year-end. Within 120 days after the taxpayers year-end. 25 March following the reporting year for companies for which the tax period is the calendar year). By the end of the 11th month after the tax year-end. NA for most industries/companies (except upstream oil and gas and branches of foreign banks). 30 September/November as the case may be). the information is not currently provided in this chart). 2017 - 2021 PwC. Upon submission of an income tax return (i.e. For companies with an accounting year end date of 31 December, the provisional tax payments for a given tax year are to be paid in two instalments, which are usually due in November of the current year and January of the next year. A fiscal-year filer may choose to end its tax year on any other date Any additional tax liability imposed through the tax assessment is required to be settled within 30 days from the date of the tax assessment letter. Four instalments by 10 April, 10 July, 10 October, and 10 January. Within two months after the end of the sixth month of the corporation's accounting period. 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