S.L. 372.18 Art. 5Amount of provisional tax payable.

Save as otherwise provided in these rules the total of the P.T. payments during a basis period shall not be less than the P.T.

benchmark applicable at the time the third P.T. payment falls due and shall be paid as follows:

(a) at least twenty percent of the P.T. benchmark shall be paid by the date on which the first P T. payment falls due;

(b) at least a further thirty percent of the P.T. benchmark shall be paid by the date on which the second P.T. payment falls due: Provided that where the P.T. benchmark resulting from the operation of rule 6(3) or rule 6(4) is higher than that which had been determined in accordance with rule 6(1) or rule 7, then the amount of provisional tax which shall be paid by the date on which the second P.T. payment falls due shall be at least fifty percent of the P.T. benchmark as determined by rule 6(3) or 6(4) but subtracting therefrom any P.T. payments already made for the basis period;

(c) at least a further fifty percent of the P.T. benchmark shall be paid by the date on which the third P.T. payment falls due: Provided that where the P.T. benchmark resulting from the operation of rule 6(3) or rule 6(4) is higher than that which had been determined in accordance with rule 6(1) or rule 7, then the amount of provisional tax which shall be paid by the date on which the third P.T. payment falls due shall be the full P.T. benchmark as determined by rule 6(3) or 6(4) but subtracting therefrom any P.T. payments already made for the basis period.