According to the fiscal year 2024/25, if you file your tax return on time, i.e., between July and September each year, you will be considered a filer. If you file after this period or file the previous year’s return and pay the surcharge, you will be considered a late filer. If you only obtain a National Tax Number and do not file a tax return, you will be considered a non-filer. Therefore, according to the budget, the advance tax on the purchase and sale of property will be approximately:
Single Tax on Filers
Double Tax on Late Filers
Triple or More Tax on Non-Filers
Therefore, this year, ensure to submit your income tax return by September 30, 2024, to take full advantage of being a filer.
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