Paying Taxes

How to Pay Tax

With the new payment system, taxpayers are advised to take note of the following:

  1. That they must first file-in with the Commissioner, Domestic Tax Department all their Returns i.e. PAYE, Withholding, GST, Corporate Tax, Individual and Partnership Tax (Trade Tax), Capital Gains Tax, Foreign Travel Ticket Tax and Pay-roll Tax, before obtaining a paying-in slip from the TTO.
  2. That they must present the TTO paying-in slip for all payments to the Banks with requisite transaction number as indicated on the paying-in-slip.
  3.  That all cheques payment below Le50,000,000.00 must be done through certified cheques/banker’s draft to the respective Banks collecting on behalf of the TTO (please note that, ordinary cheques are no longer allowed),  and
  4. Payment above Le50, 000,000.00 must be done through BANK/SWIFT transfers to the Central Bank. The same procedure as indicated in (1) above must be followed.

Below are the account numbers to which amounts of Le 50, 000,000.00 and above must be paid into  the Central Bank:

No.

Account Name

 Account No.        (B-Ban Number)

1

Commissioner of Income Tax  Account

0111001396

2

Commissioner of GST Account

0111002135

3

Marine Resources Treasury Account

0111001437

4

Mineral Resources Treasury Account

0111001451

5

Immigration Treasury Account

0111001475

6

General Revenue Treasury Account

0111001499

7

General Agricultural Services Account

0112004143

8

Administrator and Registrar General Account

0111001530

9

Afforestation A/C

0111002197

 

Taxpayers should then present evidences of payments (Certified Bank Credit/Debit Advice etc) to the respective TTO offices for the issuance of official TTO receipts. This is very important as failure to do so will give us reconciliation problems and even updating your records accordingly.

 

  1. The main objective of introducing the new payment system is to ensure that cheques are given real value at the time of payment. Other advantages of the new payment system mentioned above are as follows:
  • The new payment system would introduce an automated chequing system; and
  • A mode of settlement based on Real Gross Time Settlement (RGTS).