Personal Tax Form

(All Gray Fields are calculatable fields, i.e. you do not need to enter information in these fields)

101 Wages and Salary from Government Employment

102 Wages and Salary and Benefits from other Employment

104 Gross Employment Income (adds lines 101 and 102)

106 Less: Allowable Employment Deductions

108 Net Employment Income (subtracts line 106 from line 104)

114 Alimony or Maintenance receipts

115 Annuities

120 Gross Taxable Dividends

121 Commissions, Discounts, Fees, License Charges, and Premium Income

130 Other Income (include income earned overseas)

141 Net Rental Income

143 Net Business Income (include income earned overseas)

145 Net Professional Income (include income earned overseas)

147 Share of Income/Loss from Partnership

149 Share of Income/Loss from Estate or Trust

150 Total Income (adds lines 108 to 149)

151 Less: Prior Year(s) Loss (from bona fide business only)

152 Less: Exempt Income (Sickness/Maternity Benefit refunded to your employer)

155 Net Income (subtracts line 151 and line 152 from line 150)

COMPUTATION OF TAX ON CHARGEBABLE INCOME

SELECT ONE(1) OF THE THREE(3) CONDITIONS AND ENTER THE RESULT IN THE "TAX PAYABLE" COLUMN

Condition 1: use if Chargeable Income is between $0 and $20,000		Chargeable Income		Tax Payable
Enter Chargeable Income from line 250	A		x15%
Total Tax Payable on line B and Carry to line 300			B

Condtion 2: use if Chargeable Income is between $20,001 and $50,000		Chargeable Income		Tax Payable
Enter Chargeable Income from line 250	A
Tax on the first $20,000	B	$20,000.00		$3,000.00
Difference *(minus lineB from line A)*	C		x 25%
Total Tax Payable on line D (line B plus line C)			D

Condition 3: use if Chargeable Income is greater than $50,000		Chargeable Income		Tax Payable
Enter Chargeable Income from line 250	A
Tax on the first $50,000	B	$50,000.00		$10,500.00
Difference *(minus line B from line A)*	C		x 35%
Enter Total Tax Payable on line D (line B plus line C)			D

300 Total tax on Chargeable Income

LESS: CREDITS AND PAYMENTS

312 Dividend and Double Tax Credit (not exceeding tax on Chargeable Income)
320 PAYE deductions (employees only)
321 Installment payments
350 Total Credits and Payments (adds lines 312 to 321)
351 Difference (subtracts line 350 from 300)
352 Add: Late-filing Penalty (multiplies line 300 by 5%)
353 Total amount outstanding (adds lines 351 and 352)
354 Enter here if payable
355 Enter here if refundable
356 Amount to be paid on filing

Attention, please read the following information:

1. Make Cheque or Money Order Payable to the COMPTROLLER OF INLAND REVENUE,DO NOT MAIL CASH.

2. Return MUST be filled ON OR BEFORE MARCH 31st

3. Any balance due MUST be paid ON OR BEFORE MARCH 31st

4. A 10% PENALTY and INTEREST AT 1% PER MONTH OR PART THEREOF will be charged on payments made after MARCH 31st

5. If you require assistance in completing this form, contact the Inland Revenue Division at telephone number : 266 3600

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