Which corporation tax office

If you are reasonably confident that your tax liability this year is going to be less than that of the previous year because your company has been less profitable this year, you are able to claim to reduce your Payments on Account.

You must complete and submit a CT4 Application Form before the payment is due. Please note that surcharges will be incurred if, after having submitted such a claim, your accounts reflect that your actual tax liability exceeds the sum of the payments on account already made. I have paid the Payments on Account due but have still received a tax assessment resulting in a further liability - why is this?

This would normally be due to the company's tax computation having been adjusted by the Tax Office. A copy of the amended tax computation will have been sent to your accountant. My company has ceased to trade - what are my obligations? The company should inform the Income Tax Office in writing that it has ceased to trade and submit any outstanding tax return and accounts to the date of cessation.

The company should also ensure that any outstanding taxes are paid. For any enquiries please contact us on Tel or email us at corporatetax gibraltar. Businesses and Corporations.

Commissioner of Income Tax: Main Office Number: Accessibility X. Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. It is categorized under Indirect Tax and came into existence under the Finance Act, Description: In this case, the service provider pays the tax and recovers it from the customer. Service Tax was earlier levied on a specified list of services, but in th.

Direct tax is a type of tax where the incidence and impact of taxation fall on the same entity. These are largely taxes on income or wealth. Income tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax. A nation is a sovereign entity. Any risk arising on chances of a government failing to make debt repayments or not honouring a loan agreement is a sovereign risk.

Description: Such practices can be resorted to by a government in times of economic or political uncertainty or even to portray an assertive stance misusing its independence.

A government can resort to such practices by easily altering. The difference between total revenue and total expenditure of the government is termed as fiscal deficit. It is an indication of the total borrowings needed by the government. While calculating the total revenue, borrowings are not included. Description: The gross fiscal deficit GFD is the excess of total expenditure including loans net of recovery over revenue receipts including external.

Description: A bullish trend for a certain period of time indicates recovery of an economy. Non-Tax Revenue is the recurring income earned by the government from sources other than taxes. Description: The most important receipts under this head are interest receipts received on loans given by the government to states, railways and others and dividends and profits received from public sector companies. Various services provided by the government -- police and defence, social.

Union excise duty is a type of indirect tax on goods manufactured in India. The burden of taxation is, however, passed on to the consumers by the manufacturer. When the rate of valuation is on ad valorem. To help us improve GOV. It will take only 2 minutes to fill in. Cookies on GOV. UK We use some essential cookies to make this website work. Accept additional cookies Reject additional cookies View cookies. Hide this message. Corporation Tax: general enquiries. Webchat Speak to an adviser online about general Corporation Tax enquiries.