NEWS

Due dates for interest, additional taxes and penalties

  • Employees
    • Due date for submission of income tax return: 30/04 of the following year
    • Due date for submission of income tax return via TAXISNET: 31/07 of the following year (for 2016, the deadline has been extended to 30/09/2017)
    • Due date for payment of tax due: 30/06 of the following year
    • 5% extra tax for late payment of the due tax: 01/08 of the following year
    • 5% penalty for late payment of the due tax: 01/08 of the following year
  • Self-Employed who do not prepare audited financial statements (turnover below €70,000)
    • Due date for submission of income tax return: 30/06 of the following year
    • Due date for the submission of income tax return via TAXISNET: 30/09 of the following year
    • Due date for payment of tax due: 30/06 of the following year
    • 5% extra tax for late payment of the due tax: 01/08 of the following year
    • 5% extra tax for the late payment of the due tax if the return was submitted through TAXISNET: 01/11 of the following year
    • 5% penalty for late payment of the tax due: 01/08 of the following year
  • Self -Employed who prepare audited financial statements (turnover exceeding €70,000)
    • Due date for submission of income tax return: 31/03 of the second following year
    • Due date for payment of the tax due: 01/08 of the following year
    • 5% extra tax for late payment of the due tax: 01/05 of the second following year
    • 5% penalty for late payment of the due tax: 01/09 of the following year
  • Company
    • Due date for submission of income tax return: 31/03 of the second following year
    • Due date for payment of the tax due: 01/08 of the following year
    • 5% extra tax for late payment of the due tax: 01/05 of the second following year
    • 5% penalty for late payment of the due tax: 01/09 of the following year

 

  • NOTES
    • For the tax year 2017 onwards, all returns should be submitted through TAXISNET
    • Effective from 14 July 2017, an additional penalty of 5% on the tax due will be imposed if the omission continues more than 2 months from the payment deadline
    • The 5% extra tax for late payment of the tax due is subject to the relevant interest rate for late payment
    • The interest rates charged on the due taxes are:
    • YEAR Percentage
      Up to 31/12/2006 9,00%
      1/1/2007 -31/12/2009 8,00%
      1/1/2010-31/12/2010 5,35%
      From 1/1/2011 5,00%
      From 1/1/2013 4,75%
      From 1/1/2014 4,50%
      From 1/1/2015 4,00%
      From 1/1/2017 3,50%

Leave a Reply

Your email address will not be published. Required fields are marked *