Down Load Tax Calendar 2010
Down Load Tax Calendar 2009

TAX CALENDAR – 2010 (Last Dates for Return filing & Payments)
January	01st 15th 15th 15th 20th 20th 20th 20th 20th 31st* 31st*	Betting & Gaming Levy – 1st Quarter 2010 PAYE – December 2009 WHT Deducted – December 2009 Stamp Duty Compounded – 4th Quarter 2009 VAT Return & Payment (Monthly) – December 2009 VAT Return & Payment (Quarterly) – 4th Quarter 2009 VAT Payment – VAT on Financial Services – December 2009 ESC Return & Payment – 2009/10 3rd Quarter NBT – 4th quarter 2009, final payment & return VAT Return – VAT on Financial Services - December 2009 Debits Tax Return & Payment – December 2009
February	15th 15th 15th 20th 20th 20th 20th 28th* 28th*	PAYE – January 2010 Income Tax – 3rd Instalment of Y/A 2009/10 WHT Deducted – January 2010 VAT Return & Payment (Monthly) – January 2010 VAT Payment (Quarterly) – 1st Instalment of 1st Quarter 2010 VAT Payment – VAT on Financial Services – January 2010 NBT – 1st payment - 1st quarter 2010 VAT Return – VAT on Financial Services – January 2010 Debits Tax Return & Payment – January 2010
March	15th 15th 20th* 20th* 20th* 20th* 31st 31st	PAYE – February 2010 WHT Deducted – February 2010 VAT Return & Payment (Monthly) – February 2010 VAT Payment (Quarterly) – 2nd Instalment of 1st Quarter 2010 VAT Payment – VAT on Financial Services – February 2010 NBT – 2nd Payment – 1st Quarter 2010 VAT Return – VAT on Financial Services – February 2010 Debits Tax Return & Payment – February 2010
April	01st 15th 15th 15th 20th 20th 20th 20th 20th 30th 30th 30th	Betting & Gaming Levy – 2nd Quarter 2010 PAYE – March 2010 WHT Deducted – March 2010 Stamp Duty Compounded – 1st Quarter 2010 VAT Return & Payment (Monthly) – March 2010 VAT Return & Payment (Quarterly) – 1st Quarter 2010 VAT Payment – VAT on Financial Services – March 2010 ESC Return & Payment – 2009/10 4th Quarter NBT – Final Payment – 1st Quarter 2010 PAYE Annual Declaration by Employers – 2009/10 VAT Return – VAT on Financial Services – March 2010 Debits Tax Return & Payment – March 2010
May	15th* 15th* 15th* 20th 20th 20th 20th 31st 31st	PAYE – April 2010 Income Tax – 4th Instalment of Y/A 2009/10 WHT Deducted – April 2010 VAT Return & Payment (Monthly) – April 2010 VAT Payment (Quarterly) – 1st Instalment of 2nd Quarter 2010 VAT Payment – VAT on Financial Services – April 2010 NBT – 1st Payment – 2nd Quarter 2010 VAT Return – VAT on Financial Services – April 2010 Debits Tax Return & Payment – April 2010
June	15th 15th 20th* 20th* 20th* 20th* 30th 30th	PAYE – May 2010 WHT Deducted – May 2010 VAT Return & Payment (Monthly) – May 2010 VAT Payment (Quarterly) – 2nd Instalment of 2nd Quarter 2010 VAT Payment – VAT on Financial Services – May 2010 NBT – 2nd Payment – 2nd Quarter 2010 VAT Return – VAT on Financial Services – May 2010 Debits Tax Return & Payment – May 2010
July	01st 15th 15th 15th 20th 20th 20th 20th 20th 31st* 31st*	Betting & Gaming Levy – 3rd Quarter 2010 PAYE – June 2010 WHT Deducted – June 2010 Stamp Duty Compounded – 2nd Quarter 2010 VAT Return & Payment (Monthly) – June 2010 VAT Return & Payment (Quarterly) – 2nd Quarter 2010 VAT Payment – VAT on Financial Services – June 2010 ESC Return & Payment – 2010/11 1st Quarter NBT – Final Payment & Return – 2nd Quarter 2010 VAT Return – VAT on Financial Services – June 2010 Debits Tax Return & Payment – June 2010
August	15th* 15th* 15th* 20th 20th 20th 20th 31st 31st	PAYE – July 2010 Income Tax – 1st Instalment of Y/A 2010/11 WHT Deducted – July 2010 VAT Return & Payment (Monthly) – July 2010 VAT Payment (Quarterly) – 1st Instalment of 3rd Quarter 2010 VAT Payment – VAT on Financial Services – July 2010 NBT – 1st Payment – 3rd Quarter 2010 VAT Return – VAT on Financial Services – July 2010 Debits Tax Return & Payment – July 2010
September	15th 15th 20th 20th 20th 20th 30th 30th 30th 30th	PAYE – August 2010 WHT Deducted – August 2010 VAT Return & Payment (Monthly) – August 2010 VAT Payment (Quarterly) – 2nd Instalment of 3rd Quarter 2010 VAT Payment – VAT on Financial Services – August 2010 NBT – 2nd Payment – 3rd Quarter 2010 Income Tax Final Payment – Y/A 2010/10 15% Tax on Distributable Profits of 2009/10 VAT Return – VAT on Financial Services – August 2010 Debits Tax Return & Payment – August 2010
October	01st 15th 15th 15th 20th 20th 20th 20th 20th 31st* 31st*	Betting & Gaming Levy – 4th Quarter 2010 PAYE – September 2010 WHT Deducted – September 2010 Stamp Duty Compounded – 3rd Quarter 2010 VAT Return & Payment (Monthly) – September 2010 VAT Return & Payment (Quarterly) – 3rd Quarter 2010 VAT Payment – VAT on Financial Services – September 2010 ESC Return & Payment – 2010/11 2nd Quarter NBT – Final Payment & Return – 3rd Quarter 2010 VAT Return – VAT on Financial Services – September 2010 Debits Tax Return & Payment – September 2010
November	15th 15th 15th 20th* 20th* 20th* 20th* 30th 30th 30th	PAYE – October 2010 Income Tax – 2nd Instalment of Y/A 2010/11 WHT Deducted – October 2010 VAT Return & Payment (Monthly) – October 2010 VAT Payment (Quarterly) – 1st Instalment of 3rd Quarter 2010 VAT Payment – VAT on Financial Services – October 2010 NBT – 1st Payment – 4th Quarter 2010 Income Tax Return – Y/A 2009/10 VAT Return – VAT on Financial Services – October 2010 Debits Tax Return & Payment – October 2010
December	15th 15th 20th* 20th* 20th* 20th* 31st 31st	PAYE – November 2010 WHT Deducted – November 2010 VAT Return & Payment (Monthly) – November 2010 VAT Payment (Quarterly) – 2nd Instalment of 3rd Quarter 2010 VAT Payment – VAT on Financial Services – November 2010 NBT – 2nd Payment – 4th Quarter 2010 VAT Return – VAT on Financial Services – November 2010 Debits Tax Return & Payment – November 2010

* Please note that, if the due date falls on a public or bank holiday, the payment is required to be made before that date.

Social Responsibility Levy (SRL)-
SRL is payable at 1.5% on every income tax (other than on taxes withheld) payable by companies for any period commencing on or after April 01, 2008. (Persons other than companies are not liable to SRL effective from April 01, 2008).

Discount on Income Tax payable by Individuals
Any individuals who makes any quarterly self-assessment income tax payment, one month before the due date, is entitled to a 10% discount thereon (not exceeding such percentage on the instalment based on the current year profits).

Illustration – I
Suppose your income tax liability for the year of assessment 2008/09 is Rs. 200,000/-.
Then, under normal circumstances you may make quarterly self-assessment income tax payments for the year of assessment 2009/10 as follows:

15th August 2009: 200,000 x ¼ 15th November 2009: 200,000 x ¼ 15th February 2010: 200,000 x ¼ 15th May 2010: 200,000 x ¼	= = = =	50,000 50,000 50,000 50,000
	200,000

However, if you make above payments one month before respective stipulated dates, you are entitled to a 10% discount thereof (based on current year liability) and payments could be made as follows.

15th July 2009: (200,000 x ¼) less 200,000x ¼ x10% 15th Oct 2009: (200,000 x ¼) less 200,000x ¼ x10% 15th January 2010: (200,000 x ¼) less 200,000x ¼ x10% 15th April 2010: (200,000 x ¼) less 200,000x ¼ x10%	= = = =	45,000 45,000 45,000 45,000
	180,000

If your income tax liability for the year of assessment 2009/10 is Rs. 250,000/-,
then, the balance tax payable for that year of assessment, on or before September 30, 2010, is as follows:

Total Income Tax payable for the Y/A 2009/10 Less: Total of Quarterly self-assessment tax payments made         Discount 200,000 x 10% (already deducted)	180,000 20,000	250,000 (200,000)
Balance Tax payable on or before September 30, 2010		50,000

Illustration – II
Suppose your income tax liability for the year of assessment 2008/09 is Rs. 200,000/-.
Then, under normal circumstances you may make quarterly self-assessment income tax payments on the basis of that liability for the year of assessment 2009/10 as follows:

15th August 2009: 200,000 x ¼ 15th November 2009: 200,000 x ¼ 15th February 2010: 200,000 x ¼ 15th May 2010: 200,000 x ¼	= = = =	50,000 50,000 50,000 50,000
	200,000

However, if you make above payments one month before respective stipulated dates, you will be entitled to a 10% discount thereof (based on current year liability) and payments could be made as follows.

15th July 2009: (200,000 x ¼) less 200,000x ¼ x10% 15th Oct 2009: (200,000 x ¼) less 200,000x ¼ x10% 15th January 2010: (200,000 x ¼) less 200,000x ¼ x10% 15th April 2010: (200,000 x ¼) less 200,000x ¼ x10%	= = = =	45,000 45,000 45,000 45,000
	180,000

If your income tax liability for the year of assessment 2009/10 is Rs. 150,000/-,
then the balance tax payable for that year of assessment, on or before September 30, 2010 is as follows.

Total Income Tax payable for the Y/A 2009/10 Less: Total of Quarterly self-assessment tax payments         Discount 150,000 x 10% (entitled)	180,000 15,000	150,000 (195,000)
Refund due for the Y/A 2009/10		(45,000)

Please note that the discount is limited to 10% of the current year tax liability.