EARNINGS AND PROFITS TAX - |
Content |
Tax assessed and collections |
Property Tax (Dollars) |
Salaries Tax (Dollars) |
Profits Tax - |
Profits Tax - |
Interest Tax (Dollars) |
Personal Assessment (Dollars) |
Total (Dollars) |
Tax assessed during the year - 1997-1998 and earlier years |
144,736,161 |
529,517,159 |
39,068,963 |
498,680,880 |
38,614 |
874,447,883 |
2,086,489,660 |
---|---|---|---|---|---|---|---|
Tax assessed during the year - 1998-1999 Final Tax only |
54,899,510 |
103,319,184 |
(3,024,800,469) |
(89,738,697) |
- |
2,392,578,245 |
(563,742,227) |
Tax assessed during the year - 1999-2000 Provisional Payments and Final Tax |
1,245,468,980 |
25,865,479,046 |
33,897,195,260 |
4,767,043,037 |
- |
1,212,667 |
65,776,398,990 |
Total Tax Assessed |
1,445,104,651 |
26,498,315,389 |
30,911,463,754 |
5,175,985,220 |
38,614 |
3,268,238,795 |
67,299,146,423 |
Add: Collectables - Tax outstanding as at 31 March 1999 b/f |
221,756,571 |
6,040,630,357 |
16,986,776,533 |
2,268,944,827 |
479 |
420,297,361 |
25,938,406,128 |
Add: Collectables - Surcharge, Compound Penalty and Additional Tax imposed and Costs awarded by the Board of Review |
14,394,418 |
191,024,434 |
476,072,115 |
388,759,367 |
- |
11,310,584 |
1,081,560,918 |
Add: Collectables - Interest on Tax Heldover |
55,898 |
1,457,325 |
44,197,619 |
2,676,444 |
- |
381,157 |
48,768,443 |
Add: Collectables - Write-off re-opened |
2,332,352 |
36,860,865 |
4,958,118 |
9,897,920 |
13,312 |
1,926,446 |
55,989,013 |
Total of Tax Assessed and Collectables (a) |
1,683,643,890 |
32,768,288,370 |
48,423,468,139 |
7,846,263,778 |
52,405 |
3,702,154,343 |
94,423,870,925 |
Collections during the year - Net Tax collected |
1,155,505,996 |
24,667,236,942 |
31,910,462,971 |
4,993,922,506 |
51,926 |
3,207,144,536 |
65,934,324,877 |
Collections during the year - (After allowing for refunds of tax) |
106,323,632 |
1,256,053,955 |
5,379,330,448 |
224,574,941 |
- |
397,754,383 |
7,364,037,359 |
Surcharge, Compound Penalty, Additional Tax and Costs awarded by the Board of Review |
12,378,657 |
163,282,109 |
374,783,944 |
368,014,424 |
- |
8,701,580 |
927,160,714 |
Interest on Tax Heldover |
53,963 |
960,243 |
47,995,654 |
3,352,222 |
- |
360,836 |
52,722,918 |
Total Net Collections (b) |
1,167,938,616 |
24,831,479,294 |
32,333,242,569 |
5,365,289,152 |
51,926 |
3,216,206,952 |
66,914,208,509 |
Balance of Tax, Surcharge, etc. payable (a) - (b) |
515,705,274 |
7,936,809,076 |
16,090,225,570 |
2,480,974,626 |
479 |
485,947,391 |
27,509,662,416 |
Less: Not collected by virtue of set-off |
235,413,217 |
1,809,328,572 |
- |
441,506,231 |
- |
- |
2,486,248,020 |
Less: Written-off as irrecoverable |
8,235,575 |
157,591,479 |
169,033,867 |
48,401,734 |
- |
7,896,234 |
391,158,889 |
Tax, Surcharge, etc. outstanding as at 31 March 2000 carried forward |
272,056,482 |
5,969,889,025 |
15,921,191,703 |
1,991,066,661 |
479 |
478,051,157 |
24,632,255,507 |
Less: Under objection or appeal |
15,449,060 |
511,150,673 |
9,500,330,841 |
506,350,316 |
- |
108,274,635 |
10,641,555,525 |
Less: Listed for write-off but awaiting approval |
381,180 |
1,454,270 |
5,753,859 |
2,190,939 |
- |
1,037,535 |
10,817,783 |
Less: Assessed but not yet due |
70,930,618 |
3,810,831,898 |
3,523,341,302 |
549,696,443 |
- |
158,590,462 |
8,113,390,723 |
Net Tax, Surcharge, etc. in arrears as at 31 March 2000 |
185,295,624 |
1,646,452,184 |
2,891,765,701 |
932,828,963 |
479 |
210,148,525 |
5,866,491,476 |
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(Last updated/reviewed : August 30, 2001))