Aug 30 , 2025
The Ministry of Finance introduced a new system requiring taxpayers to pay 25pc of annual taxes every three months. The first installment, due August 2025, covers income from January to March, with subsequent payments each quarter. Businesses reporting zero income or losses will have payments calculated based on their last tax year. New taxpayers or those without prior filings will use first-quarter 2025 income to determine the August installment. Records need only cover the specified years. A minimum 2.5pc tax applies to loss-making businesses, with losses above that threshold carried forward up to five years. The reforms seek to ensure fair contributions while keeping tax administration predictable and organised.
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