| 5/7/2008 |
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| Company Income Tax Re-Design |
The Company Income Tax processing re-design is an initiative to create a fully electronic process from the
Taxpayer's desk through the Inland Revenue's Processing system. The initiative has three main thrusts:
- A re-designed Income Tax Return and prescribed attachments
- The Tax Index of Financial Data
- Electronic Interactive Services provided by the Inland Revenue
The Income Tax Return has been re-designed to cater for new statutory requirements, and in the process
has been simplified. Specific information required by the Department will be submitted through prescribed
attachment on a need to basis. The new Company Tax Return facilitates Electronic Lodgement.
The Tax Index of Financial Data (TIFD) is a structured presentation of financial information as required by
the Inland Revenue. The TIFD will facilitate electronic lodgement of Financial Statements. The TIFD structure
reduces the risk of interpretation inherent in the wide variety of Financial Statement formats currently
presented to the Inland Revenue.
The Inland Revenue has a suite of on-line services for Taxpayers, Tax Practitioners and Employers.
These services include facilities to submit on line Income Tax Returns, View Taxpayer Accounts, File forms
related to employees and pay Tax and Social Security Contributions.
This section of the Web Site will be regularly updated with the latest information on the Company Income Tax
Process re-design.
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