Submission of provisional tax return for 2017
Individuals with taxable income other than salaries, pensions, dividends and interest and Companies with taxable income, are obliged to complete and submit a provisional tax assessment.
The income tax arising from the submission of the provisional tax return is payable in two equal instalments on:
- 31 July 2017
- 31 December 2017
If any instalment is not paid by the end of the month following the above due dates, interest is chargeable at 3.5% and a penalty of 5% on the tax due.
In case the provisional taxable income declared is less than 75% of the final taxable income for the year, then an additional tax of 10% of the difference between the final tax due and the provisional tax paid is added.
Taxpayers are eligible to revise their provisional tax calculation by submitting a revised provisional tax return until 31 December 2017.
