| 21/8/2008 |
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TIFD Transitory Arrangements |
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There will be an initial transitory period during which the implementation of the TIFD will be restricted.
This interim period applies to tax returns due to be filed between 30 September 2002 and 31 August 2003.
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| 31st December 2001 |
30th September 2002 |
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| 31st January 2002 |
31st March 2003 |
| 28th February 2002 |
31st March 2003 |
| 31st March 2002 |
31st March 2003 |
| 30th April 2002 |
31st March 2003 |
| 31st May 2002 |
31st March 2003 |
| 30th June 2002 |
31st March 2003 |
| 31st July 2002 |
30th April 2003 |
| 31st August 2002 |
31st May 2003 |
| 30th September 2002 |
30th June 2003 |
| 31st October 2002 |
31st July 2003 |
| 30th November 2002 |
31st August 2003 |
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During the transitory interval the IRD will accept the aggregation of certain terms of expenditure
normally included within the Profit & Loss Account. A provisonal TIFD Code 6996 (Transisional Aggregation of Operating Expenses) will
be provided for this arrangement. The value of code 6996 will be reflected in the mandatory TIFD code 6997 (Total
Operating Expenses).
We also intend to provide ten temporary codes (T001 - T010) that may be used to enter the description of
each expense item aggregated within TIFD Code 6996, together with the corresponding amount(s).
These provisional arrangements apply for the transitory period only and will not be available
for tax returns due to be filed after 31st August 2003.
Please note that the provisional code 6996 and the temporary codes should not be used to report:
- Provisions and expense items that are not allowed or require adjustments for tax purposes; and
- Expense items that must satisfy any statutory disclosure requirements.
These items should always be reported under the appropriate TIFD Code. If there is
no exact or close match, the generic code should be used.
Inland Revenue Department - 20th February 2002
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