BI MONTHLY TAXABLE PERIOD

What is this new BI MONTHLY TAXABLE PERIOD for? As I know this is not applicable to retail companies, but what are the rules & regulations to apply?

Please be informed that registrants may now request to the Director General for a two months taxable period (Bi-Monthly)  subject to the following conditions:

  1. Applicable only for registrants with a monthly taxable period
  2. Registrants under cash basis industries such as retailing are not allowed to apply
  3. All applications will be subject to Director General’s condition and approval

All applications MUST BE be made via TAXPAYER ACCESS POINT (TAP). For a guide to Bi-Monthly application via TAP

Asked on February 13, 2018 2018-02-13 00:53:45 Business (商家)
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2 Answer(s)

This is a very good move by the Customs for those who usually or always has to pay output tax every month.  It will sure help in the company cash flow.  Bi-monthly taxable means the approved GST registered company may submit and pay GST every two months instead of monthly.  You have already stated the rules and regulations for applying bi-monthly taxable period.

Answered on February 13, 2018. 2018-02-13 02:26:07
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Oh I see… so it’s just that simple to switch from mthly to bi-mthly .. thank you for ur answer 😀

Answered on February 13, 2018. 2018-02-13 02:35:10
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