Аssessment of the Corporate Income Tax after the end of the year

The assessment and the payment of the CIT is made according the Tax Balance (form “DB“), which is submitted to the Public Revenue Office in the deadline proscribed for submitting the annual calculation according the Law on Trade Companies and the Accounting Regulations i.e. until 28/29th of February of the year following the year for which the taxation is made. For the taxpayers who submitted the Annual accounts to the Central Registry of RM electronically, the deadline for submission is March 15th.

Payment of the Corporate Income Tax after the end of the year

The determined difference between the paid advances of the CIT calculated according the tax amount in the “DB” for the previous year and the real obligation of the calculated CIT determined in the “DB” for the acting year, the taxpayer is obliged to pay within 30 days of the deadline for submission of the annual account.

The payment of the CIT is made by the authorized person of the taxpayer. The payment of the tax after the submitted tax return for self-taxation (form “DB”), in regular procedure is made from the finances, including all available taxpayer’s bank accounts.

Payment of the monthly advances from the Corporate Income Tax

The monthly advances of the CIT are determined in the amount of one twelfth from the assessed tax in the Tax Balance “DB“ for the previous year, increased for the percentage of the cumulative increase of retail price in the Republic from the previous period of the year, i.e. until 31 January the next year, related to the average retail prices in the previous year.

The monthly advances are paid within 15 days after the deadline of each calendar month.

The taxpayers/legal entities are not obliged to deliver Monthly calculation of the advances of the CIT (form “MDB”) to the Public Revenue Office.

Аssessment and payment of the Corporate Income Tax of paid dividends and other distributions from the profit

The tax based on payment of dividends and other distributions from the profit, the taxpayer assesses on the form “DD-ID” – Calculation of tax of paid dividend and other distribution from the profit.

The assessment and payment of the tax of paid dividends and other distributions from the profit is made latest to the day of payment.

Note: Tax on paid dividends and other distributions of profits are calculated and paid only for the payments of dividends and other payments from the profit, from the accumulated gains from 2009 to 2013.