How to est tax payment from YA2000 onwards

How to estimate my tax payments from YA2000 onwards?

For Year of Assessment 2000 (Current Year Basis), the IRB will issue the Form CP200 showing tax instalments due and which will be served as the estimate tax payable together with the Form CP203 to facilitate the tax payment. The estimated tax payable shall be based on the tax payable for year of Assessment 1999 or if no tax is payable in that year of assessment, be based on the tax payable for Year of Assessment 1998.

From Year of Assessment 2001 onwards, companies are required to furnish estimates of tax payable at least 30 days before the commencement of the basis period for that particular year of assessment using the prescribed Form CP204.

For Year of Assessment 2001, the estimated tax payable shall not be less than the amount of tax payable for Year of Assessment 1999. As from Year of Assessment 2002 onwards, the estimated tax payable shall not be less than the revised estimate, or where no estimate is made, the estimate of tax payable for the preceding year of assessment.

A new company which commences operations in the particular year of assessment will have to furnish the estimated tax payable within 3 months of the date of commencement of operations.

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