Credit balances will be utilized as per Section 47 of Tax Procedures Act 2015, upon validation.
Taxpayers will be expected to make a formal application to the Commissioner through their TSO Head for the utilization of the credits against existing iTax liabilities.
The credits will then be validated by the TSOs Compliance Program within 90 days from the date of submission of the application, and communication given to the taxpayer on the validation outcome.
The taxpayer will also be guided on how to utilise the validated credits.
