This ruling is issued pursuant to the authority granted under Section 84 of the Tax Administration Act (Law Number 3/2010) as amended by Law Number 14/2011. Unless otherwise stated, all references to the Act are to the Business Profit Tax Act (Law Number 5/2011), and all references to the Regulation are to the Business Profit Tax Regulation (Regulation Number 2011/R-35) as amended. This ruling is legally binding.

Introduction

1. This ruling sets out the procedure for accepting amended BPT returns and amended withholding tax returns.

2. Section 19(a) of the Act states:

A Person may correct his tax return by notice given to the MIRA within 12 (twelve) months following the due date for that return.

3. Section 18 of the Regulation states:

Where a Person submits an “amended tax return” to the MIRA in relation to a tax return filed by that Person, such return shall be considered as the “notice” specified in Section 19(a) of the Act.

Ruling

4. A Person who files an amended BPT return or an amended withholding tax return pursuant to section 19(a) of the Act shall submit an explanation for the amendment and supporting documents, together with the amended return.

5. Where the tax liability declared on an amended BPT return or an amended withholding tax return filed by a Person in accordance with paragraph 4 of this ruling is lower than the tax liability declared on the most recent BPT return or withholding tax return filed by that Person for that period, the amended return shall be subject to a review before it is accepted.

6. Where the tax liability declared on an amended BPT return or an amended withholding tax return filed by a Person in accordance with paragraph 4 of this ruling is equal to or higher than the tax liability declared on the most recent BPT return or withholding tax return filed by that Person for that period, the amended return shall be accepted without a review.

7. Where paragraph 5 of this ruling applies, the Person who filed the amended BPT return or the amended withholding tax return shall:

(a) be notified in writing that the return has been put on hold pending a review;

(b) not be eligible to claim the credit arising from the amended tax return until MIRA accepts the amendment following the review.

8. The outcome of the review referred to in paragraph 5 of this ruling shall be notified to the Person in writing.

Date of Effect

9. This ruling shall have effect from its date of issue.