To Our Valued Clients
The Inland Revenue Board ["IRB"] has issued the updated Frequently Asked Questions ["FAQ"] on Tax Matters During Phase One of the National Recovery Plan (updated on 30th June 2021) as well as the Return Form Filing Programme for the Year 2021 (updated on 26th June 2021) to update the tax filing due dates and other operational matters. In this updated FAQ, the term "Phase One of the National Recovery Plan" has been used to replace the term "Movement Control Order 3.0 Period" used in the earlier FAQ.
The important update provided in the above updated FAQ / Return Form Filing Programme for the Year 2021 is the revised extension of time allowed for filing of income tax return form ["ITRF"] in respect of:-
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Individuals (Resident and Non-Resident, including Knowledge / Expert Worker), Partnership, Association, Deceased Person's Estate and Hindu Joint Families (i.e. Forms e-B, e-M, e-BT, e-MT, e-P, e-TF, e-TP and TJ) |
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Filing of ITRF for year of assessment ["YA"] 2020 for taxpayers carrying on a business is given extension of time until 31st August 2021 |
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| ii. |
Companies, Limited Liability Partnership, Co-operative Society, Trust Bodies, Unit Trusts / Property Trusts, Real Estate Investment Trusts / Property Trust Funds and Business Trusts (i.e. Forms e-C, e-PT, e-C1, e-TA, e-TC, TR and TN) |
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ITRF for the YA 2020 |
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2 months' extension of time from the statutory due date is given to those entities with accounting period ended 1st October 2020 to 31st December 2020 |
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ITRF for the YA 2021 |
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2 months' extension of time from the statutory due date is given to those entities with accounting period ended 1st January 2021 to 31st January 2021 |
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Apart from the above, where the due date for submission of Real Property Gains Tax return forms fall during Phase One of the National Recovery Plan, extension of time is given until 31st August 2021.
For other changes, please refer to the Appendix providing a summary of some of the extended deadlines for submission of ITRF / other prescribed forms and payment of tax during Phase One of the National Recovery Plan, with changes as highlighted therein.
For further information, kindly refer to the following:-
Please do not hesitate to contact us if you need any clarification on the foregoing.