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Category Income Tax

Provisional Tax (5 Things you need to know)

Provisional Tax 5 Things you need to know
Provisional tax is a prepayment of income tax, designed to prevent taxpayers from facing significant tax debts during assessment. Unlike a distinct tax on its own, provisional tax entails paying a portion of the anticipated income tax liability ahead of time. By doing so, taxpayers can manage their tax obligations more effectively and avoid accumulating substantial debts upon assessment.
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