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14.3. Calendar of Important Compliance Events

Tax Year

The tax year is the calendar year. However, a different 12-month period (known as special tax year) is allowed, subject to approval by the tax authorities.

Tax Return Filing

Companies are required to file tax returns by 31 March of the year following the end of the relevant calendar year. In the case of companies following special tax year then tax returns are required to be filed within 3 months from the end of the relevant tax year.

An extension of 30 days for filing a tax return may be granted by tax authorities subject to certain conditions.

Tax Payments

Advance tax is payable in quarterly installments by 15th of the following month from the end of the third, sixth, ninth and twelfth months of the relevant tax year. The installment is based on 1.5% of the total revenue of a company with audited accounts or 2.5% of a company without audited accounts.

Availability of E-Filing