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Tax Calendar​​​

TAX CALENDAR – 2020
(Last Dates for Making Payments & filing Returns)

Month Day Description
January
1ˢᵗ Betting & Gaming Levy Payment – 4ᵗʰ Quarter 2019/2020
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – December 2019
15ᵗʰ PAYE Payment – December 2019
15ᵗʰ WHT  Payment – December 2019
15ᵗʰ Stamp Duty Compounded – Payment & Return of 4ᵗʰ Quarter 2019
20ᵗʰ VAT  Payment –  December 2019 and Second Interim Estimate of Calendar Year Taxpayers (VATFS) for 2019/2020 
20ᵗʰ DRL Value Addition Statement & Payment  – December 2019
20ᵗʰ Betting & Gaming Levy Return – 3ʳᵈ  Quarter 2019/2020
31ˢᵗ VAT Return - Monthly (December 2019) & Quarterly ( October - December 2019)
February
7ᵗʰ Betting & Gaming Levy Payment - 10% of Turnover – January 2020
15ᵗʰ Income Tax – 3ʳᵈ Instalment of Y/A 2019/2020
15ᵗʰ PAYE Payment – January 2020
15ᵗʰ WHT  Payment – January 2020
20ᵗʰ VAT Payment –  January 2020
28ᵗʰ VAT Return – Monthly (January 2020)
March
7ᵗʰ Betting & Gaming Levy Payment - 10% of Turnover – February 2020
15ᵗʰ PAYE Payment – February 2020
15ᵗʰ WHT  Payment – February 2020
20ᵗʰ VAT  Payment –  February 2020
31ˢᵗ VAT Return – Monthly (February 2020)
April
1ˢᵗ Betting & Gaming Levy Payment – 1ˢᵗ Quarter 2020/2021
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – March 2020
15ᵗʰ PAYE Payment – March 2020
15ᵗʰ WHT  Payment – March 2020
15ᵗʰ WHT on Partnership Income - Year of Assessment 2019/2020
15ᵗʰ Stamp Duty Compounded – Payment & Return – 1ˢᵗ Quarter 2020
20ᵗʰ VAT Payment –  March 2020
20ᵗʰ Betting & Gaming Levy Return – 4ᵗʰ Quarter 2019/2020
30ᵗʰ VAT Return - Monthly (March 2020) & Quarterly ( January - March 2020)
30ᵗʰ WHT  Annual Statement – Year of Assessment 2019/2020
30ᵗʰ PAYE Annual Statement of Employers – 2019/2020
May
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – April 2020
15ᵗʰ Income Tax – 4ᵗʰ Instalment of Y/A 2019/2020
15ᵗʰ WHT Payment – April 2020
20ᵗʰ VAT Payment –  April 2020
31ˢᵗ VAT Return – Monthly (April 2020)
June
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – May 2020
15ᵗʰ WHT  Payment – May 2020
20ᵗʰ VAT Payment – May 2020
30ᵗʰ VAT Return – Monthly (May 2020)
July
1ˢᵗ Betting & Gaming Levy Payment – 2ⁿᵈ Quarter 2020/2021
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – June 2020
15ᵗʰ WHT  Payment – June 2020
15ᵗʰ Stamp Duty Compounded – Payment & Return 2nd Quarter 2020
20ᵗʰ VAT Payment  –  June 2019 and First Interim Estimate of Calendar Year Taxpayers for 2020/2021
20ᵗʰ Betting & Gaming Levy Return – 1ˢᵗ Quarter 2020/2021
31ˢᵗ VAT Return – Monthly June 2020) & Quarterly ( April - June 2020)
August
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – July 2020
15ᵗʰ Income Tax – 1ˢᵗ Instalment of Y/A 2020/2021
15ᵗʰ WHT  Payment – July 2020
20ᵗʰ VAT Payment –  July 2020
31ˢᵗ VAT Return – Monthly (July 2020)
September
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – August 2020
15ᵗʰ WHT  Payment – August 2020
20ᵗʰ VAT  Payment -  August 2020
30ᵗʰ Income Tax – Final Payment of Y/A 2020/2021
30ᵗʰ VAT Return - Monthly (August 2020)
30ᵗʰ VAT on Financial Services  Return– (Assessment Year Taxpayers - April 2019 to March 2020)
October
1ˢᵗ Betting & Gaming Levy Payment – 3ʳᵈ Quarter 2020/2021
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – September 2020
15ᵗʰ WHT  Payment – September 2020
15ᵗʰ Stamp Duty Compounded – Payment & Return – 3ʳᵈ Quarter 2020
20ᵗʰ VAT Payment –  September 2019 and First Interim Estimate of Assessment Year Taxpayers for 2020/2021 
20ᵗʰ Betting & Gaming Levy Return – 2nd Quarter 2020/2021
31ˢᵗ VAT Return – Monthly (September 2020) & Quarterly (July - September 2020)
November
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – October 2020
15ᵗʰ Income Tax – 2ⁿᵈ Instalment of Y/A 2020/2021
15ᵗʰ WHT  Payment – October 2020
20ᵗʰ VAT Payment –  October 2020
30ᵗʰ Income Tax Return – Y/A 2019/2020
30ᵗʰ VAT Return – Monthly (October 2020)
December
7ᵗʰ Betting & Gaming Levy Payment – 10% of Turnover – November 2020
15ᵗʰ WHT  Payment – November 2020
20ᵗʰ VAT  Payment –  November 2020
31ˢᵗ VAT Return – Monthly (November 2020)

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* Please note that, as the due date falls on a non working day (public or bank holiday) please make arrangements to pay or comply on or before that date.

Discount on Income Tax payable by Individuals

Any individuals who makes any quarterly self-assessment income tax payment, one month before the due date, is entitled to a 10% discount thereon (not exceeding such percentage on the installment based on the current year profits).

Illustration – I
Assume that your income tax liability (as an individual) for the year of assessment 2015/16 is Rs. 200,000/-. Then, under normal circumstances you may make quarterly self-assessment income tax payments for the year of assessment 2016/17, as follows:

Payment Date Calculation Amount (Rs.)
15th August 2016 200,000 x ¼ 50,000
15th November 2016 200,000 x ¼ 50,000
15th February 2017 200,000 x ¼ 50,000
15th May 2017 200,000 x ¼ 50,000
Total 200,000

However, if you make above payments one month before the respective stipulated dates, you are entitled to a 10% discount thereof (based on current year liability) and payments could be made as follows.

Payment Date Calculation Amount (Rs.)
15th July 2016 (200,000 x ¼) less 200,000x ¼ x10% 45,000
15th Oct 2016 (200,000 x ¼) less 200,000x ¼ x10% 45,000
15th January 2017 (200,000 x ¼) less 200,000x ¼ x10% 45,000
15th April 2017 (200,000 x ¼) less 200,000x ¼ x10% 45,000
Total 180,000

If your income tax liability for the year of assessment 2016/17 is Rs. 250,000/-, 
then, the balance tax payable for that year of assessment, on or before September 30, 2017, is as follows:

Computation Amount (Rs.)
Total Income Tax payable for the Y/A 2016/17 250,000
Less: Total of Quarterly self-assessment tax payments made (180,000)
Discount 200,000 x 10% (already deducted) (20,000)
Balance Tax payable on or before September 30, 2017 50,000


Illustration – II

Assume that your income tax liability (as an individual) for the year of assessment 2015/16 is Rs.200,000/-.
Then, under normal circumstances you may make quarterly self-assessment income tax payments on the basis of that liability for the year of assessment 2016/17 as follows:

Payment Date Calculation Amount (Rs.)
15th August 2016 200,000 x ¼ 50,000
15th November 2016 200,000 X ¼ 50,000
15th February 2017 200,000 X ¼​ 50,000
15th May 2017 200,000 X ¼ 50,000
Total 200,000

However, if you make above payments one month before respective stipulated dates, you will be entitled to a 10% discount thereof (based on current year liability) and payments could be made as follows.

Payment Date Calculation Amount (Rs.)
15th July 2016 (200,000 x ¼) less 200,000x ¼ x10% 45,000
15th Oct 2016 (200,000 x ¼) less 200,000x ¼ x10% 45,000
15th January 2017 (200,000 x ¼) less 200,000x ¼ x10% 45,000
15th April 2017 (200,000 x ¼) less 200,000x ¼ x10% 45,000
Total 180,000

​If your income tax liability for the year of assessment 2016/17 is Rs. 150,000/-,  then the refund for that year of assessment, is computed as follows.

Computation Amount (Rs.)
Total Income Tax payable for the Y/A 2016/17 150,000
Less: Total of Quarterly self-assessment tax payments (180,000)
Discount 150,000 x 10% (entitled) (15,000)
Refund due for the Y/A 2016/17 (45,000)

Please note that the discount is limited to 10% of the current year tax liability.

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Last updated: 22-01-2020