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01 - Tax Accounts (1).ppt hdhdiydhdhdugdgdg

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Leenjii Gabaabaa Leenjii Gabaabaa SIGTAS Mujula Murtii Taksii fi Sassaabbii Galii irratti Qophaae Kutaa Magaalaa Galaaniif Qophaaee Yeroo Turtii Guyyaa Tokkoof Leenjii Kana yeroo fudhannuu warri beeknu callisuun isa hin hubanneef akka ubatuuf gargaaruu Gaaffiin gabbisuu fi hubannoo waliigalaa argannee nus isin irraa barachaa deemna
Defining Tax Accounts
Tax Accounts Tax Type Taxpayer Tax Calculation Method Frequency of Declaration Filing Due Date Payment Due Date
Tax Types Excise Tax Turnover Tax VAT Schedule A (PAYE) Schedule A (PIT) Schedule B Rental Tax Schedule C Normal Schedule C pressumtive Schedule C Mining Income Tax Withholding on Payments Tax Stamp Duty Tax on Mining Services Rendered by Non-Residents Withholding on Foreign Interest Payment Tax Schedule D - Royalties Schedule D - Tech. Service Outside Ethiopia Schedule D - Games of Chance Schedule D - Dividends Schedule D - Interests on Deposit Schedule D - Casual Property Rental Schedule D - Capital Gain Tax for Shares Schedule D - Capital Gain Tax for Buildings/Factory/Office
Taxpayers ERCA Regional Government Enterprise Category A Category B Category C
Tax Calculation Method Fixed rate Progressive rates Based on schedules of calculation Variable (manual)
Due Dates Declaration Monthly Quarterly Annual When the transaction occurs (immediate assessment) Payment Simultaneously with the declaration
Filing Due Date Within 30 days Within 1 month Within 2 months Within 4 months
Payment Due Date Simultaneously with the declaration
Imposition Base Defines a Tax Type for a given Taxpayer 1 Tax Type >1 Imposition Bases Example: Turnover Tax 5 Imposition Bases ERCA Cat A Cat B Cat C Books of Accounts Cat C Presumptive
Imposition Bases Example: Turnover Tax Imposition Base Taxpayer Tax Calculation Method Frequency of Declaration Filing Due Date Payment Due Date ERCA Non- Individuals (ERCA) 2% goods 10% services Monthly 30 days accounting period With declaration Cat B Category B Individuals 2% goods 10% services Quarterly 30 days accounting period Cat C Books of Accounts Category C Individuals 2% goods 10% services Annual 1 month government FY Cat C Presumptive Category C Individuals Based on Sched 1, 2, 3 Annual 1 month government FY
Imposition Bases Example: Turnover Tax Imposition Base Taxpayer Tax Calculation Method Frequency of Declaration Filing Due Date Payment Due Date ERCA Non- Individuals (ERCA) 2% goods 10% services Monthly 30 days accounting period With declaration Cat B Category B Individuals 2% goods 10% services Quarterly 30 days accounting period Cat C Books of Accounts Category C Individuals 2% goods 10% services Annual 1 month government FY Cat C Presumptive Category C Individuals Based on Sched 1, 2, 3 Annual 1 month government FY
Imposition Bases Example: Turnover Tax Imposition Base Taxpayer Tax Calculation Method Frequency of Declaration Filing Due Date Payment Due Date ERCA Non- Individuals (ERCA) 2% goods 10% services Monthly 30 days accounting period With declaration Cat B Category B Individuals 2% goods 10% services Quarterly 30 days accounting period Cat C Books of Accounts Category C Individuals 2% goods 10% services Annual 1 month government FY Cat C Presumptive Category C Individuals Based on Sched 1, 2, 3 Annual 1 month government FY
Revenue Codes Revenue codes are part of the Chart of Accounts given by the Treasury (MoFED) At the end of the month, revenues collected are reported to the General Manager and to the Treasury. Revenues are then broken-down by revenue code Each Tax Account is attached to 1 Revenue Code The transfer of payment to other Revenue Codes can be done only after the revenue has been collected. It is the payment and not the charge that is accounted to revenue codes.
Define a Tax Account in SIGTAS Taxpayer Tax Type Imposition Base Revenue Code Start Date

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01 - Tax Accounts (1).ppt hdhdiydhdhdugdgdg

  • 1. Leenjii Gabaabaa Leenjii Gabaabaa SIGTAS Mujula Murtii Taksii fi Sassaabbii Galii irratti Qophaae Kutaa Magaalaa Galaaniif Qophaaee Yeroo Turtii Guyyaa Tokkoof Leenjii Kana yeroo fudhannuu warri beeknu callisuun isa hin hubanneef akka ubatuuf gargaaruu Gaaffiin gabbisuu fi hubannoo waliigalaa argannee nus isin irraa barachaa deemna
  • 3. Tax Accounts Tax Type Taxpayer Tax Calculation Method Frequency of Declaration Filing Due Date Payment Due Date
  • 4. Tax Types Excise Tax Turnover Tax VAT Schedule A (PAYE) Schedule A (PIT) Schedule B Rental Tax Schedule C Normal Schedule C pressumtive Schedule C Mining Income Tax Withholding on Payments Tax Stamp Duty Tax on Mining Services Rendered by Non-Residents Withholding on Foreign Interest Payment Tax Schedule D - Royalties Schedule D - Tech. Service Outside Ethiopia Schedule D - Games of Chance Schedule D - Dividends Schedule D - Interests on Deposit Schedule D - Casual Property Rental Schedule D - Capital Gain Tax for Shares Schedule D - Capital Gain Tax for Buildings/Factory/Office
  • 5. Taxpayers ERCA Regional Government Enterprise Category A Category B Category C
  • 6. Tax Calculation Method Fixed rate Progressive rates Based on schedules of calculation Variable (manual)
  • 7. Due Dates Declaration Monthly Quarterly Annual When the transaction occurs (immediate assessment) Payment Simultaneously with the declaration
  • 8. Filing Due Date Within 30 days Within 1 month Within 2 months Within 4 months
  • 9. Payment Due Date Simultaneously with the declaration
  • 10. Imposition Base Defines a Tax Type for a given Taxpayer 1 Tax Type >1 Imposition Bases Example: Turnover Tax 5 Imposition Bases ERCA Cat A Cat B Cat C Books of Accounts Cat C Presumptive
  • 11. Imposition Bases Example: Turnover Tax Imposition Base Taxpayer Tax Calculation Method Frequency of Declaration Filing Due Date Payment Due Date ERCA Non- Individuals (ERCA) 2% goods 10% services Monthly 30 days accounting period With declaration Cat B Category B Individuals 2% goods 10% services Quarterly 30 days accounting period Cat C Books of Accounts Category C Individuals 2% goods 10% services Annual 1 month government FY Cat C Presumptive Category C Individuals Based on Sched 1, 2, 3 Annual 1 month government FY
  • 12. Imposition Bases Example: Turnover Tax Imposition Base Taxpayer Tax Calculation Method Frequency of Declaration Filing Due Date Payment Due Date ERCA Non- Individuals (ERCA) 2% goods 10% services Monthly 30 days accounting period With declaration Cat B Category B Individuals 2% goods 10% services Quarterly 30 days accounting period Cat C Books of Accounts Category C Individuals 2% goods 10% services Annual 1 month government FY Cat C Presumptive Category C Individuals Based on Sched 1, 2, 3 Annual 1 month government FY
  • 13. Imposition Bases Example: Turnover Tax Imposition Base Taxpayer Tax Calculation Method Frequency of Declaration Filing Due Date Payment Due Date ERCA Non- Individuals (ERCA) 2% goods 10% services Monthly 30 days accounting period With declaration Cat B Category B Individuals 2% goods 10% services Quarterly 30 days accounting period Cat C Books of Accounts Category C Individuals 2% goods 10% services Annual 1 month government FY Cat C Presumptive Category C Individuals Based on Sched 1, 2, 3 Annual 1 month government FY
  • 14. Revenue Codes Revenue codes are part of the Chart of Accounts given by the Treasury (MoFED) At the end of the month, revenues collected are reported to the General Manager and to the Treasury. Revenues are then broken-down by revenue code Each Tax Account is attached to 1 Revenue Code The transfer of payment to other Revenue Codes can be done only after the revenue has been collected. It is the payment and not the charge that is accounted to revenue codes.
  • 15. Define a Tax Account in SIGTAS Taxpayer Tax Type Imposition Base Revenue Code Start Date