answersLogoWhite

0

CIT prepayments refer to advance payments made towards Corporate Income Tax (CIT) obligations. These prepayments are typically required by tax authorities to ensure that businesses contribute to their tax liabilities throughout the fiscal year, rather than just at the end. The prepayments are often based on estimated earnings and can help avoid penalties for underpayment. Businesses can reconcile these prepayments when filing their annual tax returns.

User Avatar

AnswerBot

5d ago

What else can I help you with?