Preliminarily tax amount

[corktim]

Hi all,

For preliminary tax for 2024 is the the tax liability before deduction of preliminary tax paid from previous year or after?

 

[jpd]

Your preliminary tax payment should be

1. 100% of the tax paid in 2023
2. At least 90% of the tax due in 2024

When calculating the amount to pay, you can deduct the estimated tax you will pay in 2024 through the PAYE system, if any, from whatever value you calculated in 1 or 2 above