1999-2000 Annual Report, Inland Revenue Department
(Text Only)


SCHEDULE 1


EARNINGS AND PROFITS TAX -
TAX ASSESSED AND COLLECTIONS FOR THE YEAR ENDED 31 MARCH 2000

Content


Tax assessed and collections

Property Tax (Dollars)

Salaries Tax (Dollars)

Profits Tax -
(Corporations) (Dollars)

Profits Tax -
(Unincorporated Businesses) (Dollars)

Interest Tax (Dollars)

Personal Assessment (Dollars)

Total (Dollars)

Tax assessed during the year - 1997-1998 and earlier years

144,736,161

529,517,159

39,068,963

498,680,880

38,614

874,447,883

2,086,489,660

Tax assessed during the year - 1998-1999 Final Tax only

54,899,510

103,319,184

(3,024,800,469)

(89,738,697)

-

2,392,578,245

(563,742,227)

Tax assessed during the year - 1999-2000 Provisional Payments and Final Tax

1,245,468,980

25,865,479,046

33,897,195,260

4,767,043,037

-

1,212,667

65,776,398,990

Total Tax Assessed

1,445,104,651

26,498,315,389

30,911,463,754

5,175,985,220

38,614

3,268,238,795

67,299,146,423

Add: Collectables - Tax outstanding as at 31 March 1999 b/f

221,756,571

6,040,630,357

16,986,776,533

2,268,944,827

479

420,297,361

25,938,406,128

Add: Collectables - Surcharge, Compound Penalty and Additional Tax imposed and Costs awarded by the Board of Review

14,394,418

191,024,434

476,072,115

388,759,367

-

11,310,584

1,081,560,918

Add: Collectables - Interest on Tax Heldover

55,898

1,457,325

44,197,619

2,676,444

-

381,157

48,768,443

Add: Collectables - Write-off re-opened

2,332,352

36,860,865

4,958,118

9,897,920

13,312

1,926,446

55,989,013

Total of Tax Assessed and Collectables (a)

1,683,643,890

32,768,288,370

48,423,468,139

7,846,263,778

52,405

3,702,154,343

94,423,870,925

Collections during the year - Net Tax collected

1,155,505,996

24,667,236,942

31,910,462,971

4,993,922,506

51,926

3,207,144,536

65,934,324,877

Collections during the year - (After allowing for refunds of tax)

106,323,632

1,256,053,955

5,379,330,448

224,574,941

-

397,754,383

7,364,037,359

Surcharge, Compound Penalty, Additional Tax and Costs awarded by the Board of Review

12,378,657

163,282,109

374,783,944

368,014,424

-

8,701,580

927,160,714

Interest on Tax Heldover

53,963

960,243

47,995,654

3,352,222

-

360,836

52,722,918

Total Net Collections (b)

1,167,938,616

24,831,479,294

32,333,242,569

5,365,289,152

51,926

3,216,206,952

66,914,208,509

Balance of Tax, Surcharge, etc. payable (a) - (b)

515,705,274

7,936,809,076

16,090,225,570

2,480,974,626

479

485,947,391

27,509,662,416

Less: Not collected by virtue of set-off

235,413,217

1,809,328,572

-

441,506,231

-

-

2,486,248,020

Less: Written-off as irrecoverable

8,235,575

157,591,479

169,033,867

48,401,734

-

7,896,234

391,158,889

Tax, Surcharge, etc. outstanding as at 31 March 2000 carried forward

272,056,482

5,969,889,025

15,921,191,703

1,991,066,661

479

478,051,157

24,632,255,507

Less: Under objection or appeal

15,449,060

511,150,673

9,500,330,841

506,350,316

-

108,274,635

10,641,555,525

Less: Listed for write-off but awaiting approval

381,180

1,454,270

5,753,859

2,190,939

-

1,037,535

10,817,783

Less: Assessed but not yet due

70,930,618

3,810,831,898

3,523,341,302

549,696,443

-

158,590,462

8,113,390,723

Net Tax, Surcharge, etc. in arrears as at 31 March 2000

185,295,624

1,646,452,184

2,891,765,701

932,828,963

479

210,148,525

5,866,491,476

 

 

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(Last updated/reviewed : August 30, 2001))