Calculation of 1st instalment of 2023 provisional tax

For some clients whose 2022 income tax return has been filed and processed, the 1st instalment of 2023 provisional tax is not being calculated correctly.

The instalment is being calculated based on the 2021 residual income tax (RIT) + 10% / 3, instead of the 2022 RIT + 5% / 3.

We are currently working on a fix for this issue.

In the meantime, for affected clients, please advise them to pay the 1st instalment of their 2023 provisional tax based on the 2022 RIT + 5% / 3.