Corporate profit taxpayers, whohad tax losses in Q1 2014, can avoid paying monthly advance corporate tax(ACT). To take advantage of this opportunity provided by the Tax Code (art.57.1), taxpayers need to file a tax return for 1Q 2014 .
The deadline for submitting this 1Q return is 12 May 2014. However, if ataxpayer does not want to pay ACT in April 2014, the return should be submittedprior to 30 April 2014.
PwC is available to assist in the determination of whether a taxpayer canutilize this provision of the Tax Code.