Tax Year Flashcards
(4 cards)
1
Q
Types of Tax Year
A
03
Normal Tax Year
Special Tax Year
Transitional Tax Year
2
Q
Normal Tax Year
A
1st July to 30th June
3
Q
Special Tax Year
A
Other than normal tax year
Specified Tax Year
Sugar Mills - 30th September
Banks & Insurance Companies - 31st December
4
Q
Transitional Tax Year
A
If the normal tax year and special tax year changes then the period from the day next following the last full tax year to the date of commencement of a new tax year shall be treated as Transitional Tax Year.
