Use this form to make a QCET return and payment. Please complete and send to Inland Revenue even if there is no amount payable.

This form can be completed on-screen by typing content directly into the PDF document. Once you have completed the form it is important that you print it out as you will not be able to save the information you enter into the form.

Qualifying company election tax (QCET) is an entry tax to the qualifying company system based on the amount that would represent an unimputed dividend to the shareholders if the company was to be liquidated immediately before it became a qualifying company.

QCET is taxed at 33%. This is necessary because all distributions from a qualifying company are exempt, to the extent that imputation credits cannot be attached, and this treatment is not intended to apply to previously accumulated reserves.

When calculating the amount of QCET payable it may be helpful to use the Supplement to qualifying company election tax (QCET) form (IR438).

Further information on QCET can be found in the Qualifying companies (IR435) guide.

Qualifying company IRD number

Adobe Reader 9 http://www.adobe.com/products/reader/

After you finish

Please print, sign and post the completed return and payslip to your nearest Inland Revenue office.

You may wish keep a copy of this return for your personal records.