INCOME TAX ACT 1967 (ACT 53)
PART VII - COLLECTION AND RECOVERY OF TAX




Section 107B. Payment by instalments.


(1) Subject to this section, every person chargeable to tax for a year of assessment, other than an individual to whom section 107 applies and a company to which section 107C applies, shall make payment by instalments on account of tax which is or may be payable by that person for that year of assessment, at such times and in such amounts as the Director General may direct, whether or not the tax has been assessed.

[Am. Act A1069: s.11]
(2) In determining the amount to be paid under subsection (1), the Director General may take into consideration the tax assessed, if any, in respect of the person for the year of assessment preceding that year of assessment:

Provided that the Director General may, upon an application made by the person not later than the thirtieth day of June in that year of assessment, vary the amount to be paid by instalments on account of tax and the number of instalments.

[Am. Act 600: s.11]
(3) Where any instalment amount due and payable on the date specified by the Director General pursuant to subsection (1) or (2) has not been paid within thirty days of the due date, the amount unpaid shall, without any further notice being served, be increased by a sum equal to ten per cent of the amount unpaid, and that sum shall be recoverable as if it were tax due and payable under this Act:

Provided that, where the amount unpaid is subsequently paid, the Director General may treat it as having been paid on its due date.

(4) In any case to which the proviso to subsection (2) applies, where the tax payable under an assessment for that year of assessment exceeds the total of the instalments payable and the difference is more than thirty per cent of the tax payable under the assessment, then, without any further notice being served, the amount of the difference which exceeds thirty per cent of the tax payable under the assessment shall be increased by a sum equal to ten per cent of that amount of the difference, and that sum shall be recoverable as if it were tax due and payable under this Act.

(5) Nothing in this section shall prevent the collection of any tax from a person to whom this section applies in accordance with section 103 or the payment of that tax being enforced in accordance with section 106:

Provided that in any such case for the purposes of section 103 the Director General shall determine the period within which that tax shall be payable.

[Ins. Act 337: s.13]
___________________________________________________

[Shall have effect for the year of assessement 2004 and subsequent years of assessment.]


(1) Subject to this section, every person chargeable to tax for a year of assessment,other than a company, trust body or co-operative society to which section 107C applies shall make payment by instalments on account of tax, excluding tax in respect of gains or profits from an employment, which is or may be payable by that person for that year of assessment, at such times and in such amounts as the Director General may direct, whether or not the tax has been assessed.

Provided that in the case of an individual whose income includes gains or profits from an employment,the tax payable under an assessment for that year of assessment shall be reduced by the amount of tax which is attributable to those gains or profits.


(4A) For the purposes of subsection (4), the amount of tax which is attributable to the income in respect of gains or profits from an employment of an individual shall be determined in accordance with the formula —

A
B
x C



[Am. Act A1151:s.19]


Related reading:
[Act 337: s.13; Act 600: s.11; Act A1069: s.11] Am.Act A1151:s.19]


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