A:

The provisional income tax can be translated as temporary or preliminary tax payment. It means temporarily paying a portion of taxes to the National Tax Bureau for the 1st half of the current year. The final tax settlement for the current year’s business income tax is conducted in May of the following year, and any excess payment made during the temporary payment season will be refunded, while any shortfall will need to be paid.

A:

The temporary payment season occurs from September 1st to September 30th each year.

A:

Companies are required to make a temporary payment to the National Tax Bureau, which is usually half of the previous year’s tax liability.

A:

No, it is not subject to the audit. However, if you want to calculate the provisional income tax based on the actual net income for the 1st half of the current year, the audit will be required.