Tax Alert – 2013 Changes to Corporate Income Tax Act (EN)
Those changes may practically bring about shortening of the time limits for payment of WHT, especially in the cases where the income is accrued at the end of the quarter.
(ii) WHT Declaration
According to the amendments the taxable persons will file a declaration for the due WHT and not for the already paid tax.
The persons liable to withhold and pay the tax would need to declare it by the end of the month following the relevant quarter, which practically coincides with the terms for payment of the tax. Before the amendments were adopted the time limits for declaring the already paid WHT lapsed at the end of the month following the quarter when the tax was paid.
Pursuant to the transitional provisions the persons who paid WHT during the fourth quarter of 2012 need to file a declaration for the paid tax according to the present rules in force until 31.12.2012. The new rules would apply as of 01.01.2013 to WHT which became due after 01.01.2013 and to taxes which became due until 31.12.2012 but were not paid until that date. The taxes which became due but remained unpaid until 31.12.2012 will be subject to declaration until 31.07.2013.
