Rev360 How-To Series - Filing process for Companies Income Tax

Added: 2026-05-09

[00:00:00][music] >> How to file company income tax, CIT, on Rev 360.

[00:00:08]The company income tax, or [music] CIT, module on Rev 360 enables taxpayers to prepare and submit income tax returns [music] using a structured Excel template along with required disclosures and supporting documents.

[00:00:22]>> [music] >> To begin, access the Rev 360 portal and log in using your username and password.

[00:00:29][music] From your dashboard, navigate to self-tax filing, select [music] taxes due, and choose the earliest company income tax form.

[00:00:40]Click file [music] now to begin the filing process.

[00:00:43]You will first be prompted to declare fixed assets. [music] If you have new assets, enter details such as purchase date, [music] category, description, cost, and depreciation value, and save each [music] entry.

[00:00:58]If there are no new assets, review previously recorded assets [music] and update their current depreciation values before proceeding.

[00:01:08]Next, indicate whether your organization is part of a multinational [music] enterprise.

[00:01:14]If applicable, provide the group turnover.

[00:01:17]You will also be asked if any entity [music] is a controlled foreign company.

[00:01:23]Where applicable, enter the required details, [music] including name, country of incorporation, ownership percentage, >> [music] >> and financial information.

[00:01:33]If neither applies, proceed accordingly.

[00:01:36]After completing the disclosures, download the income tax Excel template [music] and open it.

[00:01:42]Begin by reviewing the instruction sheet carefully to ensure proper completion.

[00:01:48]Proceed to the income statement sheet and enter your revenue details.

[00:01:52]Expand each category as needed and input all relevant streams.

[00:01:58]Continue by entering cost of sales including opening inventory, purchases, other [music] direct costs, factory overheads, and closing inventory.

[00:02:10]The template will automatically compute cost of sales based [music] on standard accounting principles.

[00:02:17]Enter any additional income under other income >> [music] >> including non-taxable income where applicable.

[00:02:23]Ensure that related expenses are properly identified and reported separately [music] to avoid overstatement of deductions.

[00:02:32]The system will automatically calculate your operating income based on all entries.

[00:02:38]Next, enter administrative expenses [music] line by line ensuring each expense is properly classified.

[00:02:47]Avoid grouping multiple expenses into a single entry >> [music] >> as this may lead to adjustments during review.

[00:02:54]Proceed to enter other comprehensive income and retained earnings >> [music] >> after which the system will compute profit for the year and retained earnings carried forward. [music] Review the entire income statement carefully to ensure all entries are complete, >> [music] >> accurate, and properly classified.

[00:03:14]Move [music] to the statement of financial position and enter values for non-current assets, >> [music] >> current assets, liabilities, and equity.

[00:03:24]The system will automatically compute totals. [music] Ensure that total assets equal total equity plus total liabilities.

[00:03:32]If not, [music] review and correct any discrepancies before proceeding.

[00:03:37]Proceed [music] to the profit adjustment sheet. Here, enter all non-allowable expenses under [music] add-backs and all allowable deductions under deductions.

[00:03:47]Use the available [music] description fields where necessary and ensure all entries are clearly labeled.

[00:03:54]The system will automatically [music] compute total adjustments.

[00:03:58]Before proceeding, review all entries carefully [music] and ensure the completion indicator shows 100%.

[00:04:07]Do not continue until all required fields are completed.

[00:04:11]>> [music] >> Save the completed template and return to the Rev 360 portal.

[00:04:16]Upload the file and preview the system-generated [music] tax computation.

[00:04:21]Review the taxable profit, adjustments, and final tax liability to confirm accuracy.

[00:04:28]Next, [music] upload your audited financial statements. Ensure the document is [music] complete, clearly scanned, and includes all required components such as the auditor's report, [music] financial statements, notes, and supporting schedules.

[00:04:46]All figures must align with the values submitted in your template.

[00:04:51]Before final submission, confirm [music] that all sections have been completed, supporting documents uploaded, and the declaration checkbox selected.

[00:05:02]Once satisfied, [music] submit your return.

[00:05:06]After submission, download and save your filing [music] acknowledgement, submitted return, and uploaded documents.

[00:05:14]Your company income tax filing [music] is now complete on Rev 360.

[00:05:23]>> [music]