Cashflow and competitive funding options are important to most businesses. We can help you with your cashflow by financing your provisional tax at interest rates similar to a residential mortgage rate with no security required. You can schedule settlement of the financed tax to a date when it suits your cashflow better. This is particularly useful if your business has seasonal earnings or cashflow.
You can purchase back dated provisional tax if you missed a payment, provided you haven't passed the date 75 days after your terminal tax date, at a price that is approximately 30% cheaper than IRD's interest cost. Once purchased and transferred to your tax account, all IRD late payment penalties and interest should reverse out.
You can also purchase back dated tax for prior years for any tax type to satisfy an increased liability resulting from a reassessment due to a voluntary disclosure or IRD audit.