Select Page

Deadline for submitting annual individual income tax returns extended to next year

Deadline for submitting annual individual income tax returns extended to next year

The Finance Ministry has further extended the deadline of submitting the annual individual income tax returns to 1 March 2021 according to a statement on Wednesday.

Initially, the deadline had been extended to 30 September.

The extension is necessary to allow more time to employers that did not submit their Employee Tax returns (ETX template) on the Integrated Tax Administration System (ITAS) portal, the Ministry’s spokesperson, Tonateni Shidhudhu said in a statement.

“The Ministry would like to reiterate that online submission of ETX excel sheet is a prerequisite before annual individual income tax returns are filed,” he added.

Shidhudhu said the ministry is therefore urging all employers who did not yet submit their monthly detailed ETX returns for the period from March 2019 to February 2020 to do so.

According to Shidhudhu, the extension is only for the filing of returns but not for payment of tax which might be due by the 30 September or any other date after the end of September.

Meanwhile, he said that the online penalty waiving incentive program is also extended to 1 March, 2021.

“Taxpayers should register for e-filing and file their tax returns online for quicker assessment outcomes and avoid face-to-face manual submission that may put them at risk of contracting COVID-19,” he said.


 

Hits: 135

About The Author

Intern

The Economist accommodates two interns every year, one per semester. They are given less demanding, softer issues to hone their skills, often with a specific leaning to social issues. Today, many of our interns are respected journalists or career professionals at economic and financial institutions. - Ed.