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How to Submit Your Investment Income Report

Document Description

This document specifies the details and format that should be used to submit the investment income provisions reports to the Office of the Commissioner for Revenue. This document has been produced to help you to submit your Investment Income Payor Data online in a complete and correct manner.

In terms of article 34(2) of the Income Tax Act (Chap. 123), an investment income payor has an obligation to render an account to the Commissioner of all payments of investment income made during any year.  The payors are requested to submit two reports, the report of the recipients who elected to be paid without deduction of tax and  a report of those recipients who were paid net of the withholding tax.

 
 
Table of Contents
 
1.       Introduction
2.       Data Required – Gross Investment Income report
3.       Data Required – Net of tax Investment Income report
4.       Additional Information
5.       Submission of the reports
6.       Online Filing
·         Step 1 – Register within the Office of the Commissioner for Revenue’s online services
·         Step 2 – Register for an e-ID
·         Step 3 – 2-Factor authentication
·         Step 4 – Submitting Your Data
7.       Method A – Submitting Your Data Using the Personalised Spreadsheet
8.       Method B – Importing your data file into the spreadsheet
9.       Data File Specifications
·         File Name
·         General Remarks
·         File Maintenance
·         Record Layouts
·         Header Record
·         Example Payor Header Record
·         Recipients and Investment income Details – Gross Income Report
·         Example of Recipients and Investment Income details
·         Recipients and Investment income Details – Net of tax Income Report
·         Example of Recipients and Investment Income details
10.   For further information