Details

  • Service: Tax
  • Type: Tax Alert
  • Date: 12/23/2011

CORPORATE INCOME TAX FINALISATION 2011 

This is the time of the year that you need to start preparing for the annual Corporate Income Tax ("CIT") finalisation and Related Party Transactions ("RPT") filings. In view of this upcoming deadline, we are pleased to provide you with some useful information which would facilitate the preparation of the CIT finalisation return and RPT disclosure form for your company.

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The purpose of the annual CIT finalisation is to reconcile the quarterly CIT paid during the year with the actual CIT payable for the whole year and to determine if there is any shortfall or overpayment of CIT for the year. In addition, the Company also have to attach the RPT form with the CIT finalisation return.