Returns and guides
Qualifying company election tax (QCET) return IR4P
About this return
Use this form to make a QCET return and payment. Please complete and send it to Inland Revenue even if there is no amount payable.
Adobe Acrobat PDF | 76kb | 2 pages
This form can be completed on-screen by typing content directly into the PDF document. Once you have completed the form it is important that you print it out as you will not be able to save the information you enter into the form.
When to use this return
Qualifying company election tax (QCET) is an entry tax to the qualifying company system. It is based on the amount that would represent an unimputed dividend to the shareholders if the company was to be liquidated immediately before it became a qualifying company.
QCET is taxed at 30%. This is necessary because all distributions from a qualifying company are exempt, to the extent that imputation credits cannot be attached. This treatment is not intended to apply to previously accumulated reserves.
When calculating the amount of QCET payable it may be helpful to use the Supplement to qualifying company election tax (QCET) form (IR438).
You can find further information on QCET in the Qualifying companies (IR435) guide.
What you will need
Qualifying company IRD number
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After you finish
Please print, sign and post the completed return and payslip to your nearest Inland Revenue office.
You may wish keep a copy of this return for your personal records.