Tax Deadlines – April 2023

To help you avoid missing any tax deadlines and incurring penalties, we have summarized the upcoming tax deadlines in April.

5 April – PAYE: 

Large employers must make their PAYE payment for deductions made between 16th March and 31st March.

7 April – Terminal Tax: 

Terminal tax is due for the 2022 income year for clients for whom we prepare tax returns.

7 April – FBT: 

FBT returns for the income year are due for clients who file on this basis and whose terminal tax is also due on this date.

20 April – RWT: 

RWT return and payment are due for deductions from dividends and deductions of $500 or more from interest paid during March.

20 April – NRWT / Approved Issuer Levy: 

Payment and return for March are due for NRWT and Approved Issuer Levy.

20 April – PAYE: 

Small employers must make their PAYE payment for deductions made between 1st March and 31st March, while large employers must make their PAYE payment for deductions made between 1st April and 15th April.

Important Updates for Businesses

GST Laws: New GST laws will take effect in April, modernizing rules for invoicing and record-keeping. The requirement to use tax invoices will be replaced by a more general requirement to provide and maintain certain records known as ‘taxable supply information.’

Minimum Wage Increase: The minimum wage has been raised by $1.50 per hour to $22.70, a 7% increase in line with inflation. These changes will come into effect in April.

IRD Increases Visibility of Sales Data: Starting from 1 April, payment service providers such as EFTPOS providers and online payment platforms must provide information to Inland Revenue every six months on all transactions processed. Inland Revenue will compare this information with what businesses have filed in their tax returns, addressing any discrepancies.

Get in Touch

Ensure that you incorporate your tax obligations into your monthly cash flow forecasting. If you need assistance in reviewing your forecast and exploring options, please reach out to us.

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