It ls a statutory requirement for interim payment on last year’s final tax return liability. It has been calculated at 50% of the previous year final tax return liability.
National Tax
1. Corporation Tax (amount in last FY/12 x 6)
2. Local Corporation Tax (amount in last FY/12 x 6)
Local Tax
3. Corporation Enterprise Tax (amount in last FY/12 x 6)
4. Special local Corporation Tax (amount in last FY/12 x 6)
5. Corporation Inhabitant Tax (Base of Corporation Tax) (amount in last FY x 6/12)
6. Inhabitant Tax (Per Capita Tax) (amount in last FY x 6/12)
As long as tax liability for current FY is zero as a client believe, the alternatives not to pay this payment for corporate income tax is to make Corporation Taxes Interim return filing for 6 month with first half year corporate tax and make payment calculated (If it is zero, of course, no need any payment). However, this Interim tax return filing process is almost same as entire 1 year annual tax return filing, so all documents including P/L, B/S, tax return, and tax calculation on the basis of P/L.
It means that service provider has to charge to prepare all documents including PL, B/s. tax return filing reports and take almost same amount (like the annual Taxes return filing).
