Helping you manage your provisional tax obligations
Estimating your provisional tax can be difficult: pay too little and you will be hit with UOMI and other penalties; pay too much and valuable working capital is locked up at the IRD earning a minimal return.
The solution is to deposit your provisional tax payments into the PwC tax pool held at Inland Revenue to reduce your exposure to UOMI and increase your return on overpayments.
An additional benefit of using PwC tax pooling solutions is that if you have an amount of income tax to pay for a prior year due to a reassessment by Inland Revenue, you can purchase back dated tax from PwC tax pooling solutions at interest rates that are up to 30% cheaper than Inland Revenue's UOMI rate. By purchasing back dated tax on the correct payment date, Inland Revenue will not charge you UOMI. This can be used for most tax types, not just income tax.
Depositing into the tax pool is free and you'll never pay more than if you had paid directly to the Inland Revenue. Don't pass up this opportunity to improve your bottom line.
Or you can contact us to find out more about how PwC tax pooling solutions can help you:
Phone +64 9 948 8833