Updates on 2021 Tax Filing Programme and FAQ on Tax Matters During the National Recovery Plan

Updates on 2021 Tax Filing Programme and FAQ on Tax Matters During the National Recovery Plan

To Our Valued Clients

The Inland Revenue Board has issued the amended Return Form Filing Programme for the Year 2021 (Amendment 4/2021) and Frequently Asked Questions ["FAQ"] on Tax Matters During the National Recovery Plan (both updated on 19th August 2021) to provide updates on the tax filing due dates and other compliance matters.

The important update provided in the amended Return Form Filing Programme for the Year 2021 / FAQ is the revised extension of time allowed for filing of income tax return form ["ITRF"] in respect of:-

i. Individuals (Resident and Non-Resident, including Knowledge / Expert Worker), Partnership, Association, Deceased Person's Estate and Hindu Joint Families (i.e. Forms e-B, e-M, e-BT, e-MT, e-P, e-TF, e-TP and TJ)
 
Filing of ITRF for year of assessment ["YA"] 2020 for taxpayers carrying on a business is given extension of time until 30th September 2021
ii. Companies, Limited Liability Partnership, Co-operative Society, Trust Bodies, Unit Trusts / Property Trusts, Real Estate Investment Trusts / Property Trust Funds and Business Trusts (i.e. Forms e-C, e-PT, e-C1, e-TA, e-TC, TR and TN)
 
ITRF for the YA 2020
 
3 months' extension of time from the statutory due date is given to those entities with accounting period ended 1st November 2020 to 31st December 2020
ITRF for the YA 2021
 
3 months' extension of time from the statutory due date is given to those entities with accounting period ended 1st January 2021 to 31st January 2021
2 months' extension of time from the statutory due date is given to those entities with accounting period ended 1st February 2021 to 30th April 2021

Please refer to the Appendix providing a summary of some of the extended deadlines for submission of ITRF / other prescribed forms and payment of tax during the National Recovery Plan, with changes as highlighted therein.

For further information, kindly refer to the following:-

a. Return Form Filing Programme for the Year 2021 (updated on 19th August 2021);
b. FAQ on Tax Matters During the National Recovery Plan (updated on 19th August 2021); and
c. Our earlier email dated 3rd July 2021

Please do not hesitate to contact us if you need any clarification on the foregoing.