A Tax Administration Issue

All Things Accounting

Inconsistencies that pervade the revenue collection system cause inordinate delays and are time consuming. One contradiction that should be speedily resolved is the requirement to report assessable income for Education Tax based ( line 41 of the Income Tax form (IT01)) <–See PDF Form Here

Image

and the confusion at the Revenue Office when the taxpayer reduces his/her liability by the amount paid through the Pay As You Earn (PAYE)system.

Many times the taxpayer is asked to revise his return at the Tax Collection Centre and this is a travesty. This contempt is compounded when the taxpayer is asked to write a letter stating that an error was made. Nothing in the taxpayer’s initial presentation of the taxpayer’s liability on the Education Tax form (ET01) suggests that this course of action is warranted.

Mini Glossry: ETOI is the Education Tax Return, IT01 is the Income tax Final Return

View original post 325 more words

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s