📘 REV-09 — AMENDMENT OF ITR / ECI
Correction of Submitted Tax Filings
1. Overview
REV-09 — Amendment of ITR / ECI applies when a company needs to correct or revise previously submitted Income Tax Returns (ITR) or Estimated Chargeable Income (ECI) due to errors, omissions, or updated financial information.
This process ensures accurate tax reporting and compliance with MOFE requirements.
2. Purpose / Requirement
- To correct errors in previously filed ITR or ECI
- To update tax filings due to revised financial figures
- To ensure accurate tax assessment and compliance
- To avoid penalties arising from incorrect submissions
- To ensure alignment with the Income Tax Act and MOFE reporting requirements
3. Scope of Services
We assist clients throughout the amendment process, including:
- Reviewing original ITR or ECI submissions
- Identifying discrepancies or required corrections
- Preparing corrected tax computations and figures
- Drafting explanation letters for amendments
- Compiling supporting financial documents
- Submitting amendment requests via MOFE Portal
- Monitoring revised assessment or refund status
4. Submission Process
Step 1: Review Original Filing
- Review previously submitted ITR or ECI
- Identify errors, omissions, or updates required
Step 2: Prepare Amendment
- Prepare corrected tax computation or revised figures
- Draft explanation letter detailing reasons for amendment
Step 3: Submission to MOFE
- Upload amendment documents via MOFE Portal → Amendment of ITR/ECI
Step 4: MOFE Review
- MOFE reviews amended submission
- Additional information may be requested
Step 5: Assessment Update
- MOFE updates tax assessment
- Revised tax payable or refund is processed
Step 6: Record Keeping
- Retain amendment acknowledgment and related correspondence
5. Documents Required
- Original ITR / ECI filing
- Corrected tax computation or revised figures
- Explanation letter for amendment
- Supporting documents
6. Estimated Timeline
- Subject to MOFE review and complexity of amendment
- Timeline may vary based on accuracy and completeness of documents
7. Frequently Asked Questions (FAQ)
Q1: When is REV-09 required?
When errors or changes are identified in previously submitted ITR or ECI.
Q2: Can both ITR and ECI be amended?
Yes. Both filings can be amended if supported by valid justification and documents.
Q3: How is the amendment submitted?
Via MOFE Portal → Amendment of ITR/ECI.
Q4: Will MOFE issue a revised assessment?
Yes. MOFE updates the assessment based on the amended information.
Q5: Can an amendment result in a refund?
Yes. If tax was overpaid, a refund may be processed after review.
Q6: Are penalties applicable for amendments?
Penalties depend on the nature of the amendment and MOFE’s assessment.
Q7: Should amendment records be retained?
Yes. All acknowledgments and correspondence must be kept for audit and compliance purposes.