Provisional income tax
Companies and individuals must submit their provisional income tax return for the tax year in progress and pay the
first instalment of provisional tax on or before July 31. Before the amendment, the due date was August 1. Provisional
tax is now payable in two equal instalments, no later than July 31 and December 31.
Employers must submit their annual return of employees’ pay and deductions in the preceding tax year (Form IR 7)
online. The deadline for submission has been extended from April 30 to July 31.
The VAT Law has been amended to provide for the payment of interest on VAT refunds in accordance with the provisions of Council Directive 2008/9/EC of 12 February 2008 laying down detailed rules for the refund of value added tax.
As a result of the amendment a taxable person who submits a claim for a refund of VAT which is not paid within four months of submission of the claim will be entitled to interest at the statutory rate (currently 5% per year) from the date the four-month period expires, as long as the delay in repayment is not due to any fault, action or omission on the part of the taxable person. In the event that a VAT audit is undertaken in relation to the refund application, the four-month deadline for repayment and accrual of interest is increased to eight months.
The amendment takes effect from 19 February 2013 and relates to tax periods commencing after that date, the first of which will be 1 March- 31 May 2013, in respect of which the due date for submission of returns is 10 July 2013
End of each month
• PAYE deducted from employees’ salaries for the previous month
• Defence contribution deducted from dividends, interest or rent paid in the previous month
• Submission and payment of special contribution for defence on deemed dividend distribution for the tax year 2011
• Electronic submission of 2012 income tax returns for individuals and companies preparing audited accounts
• Submission of personal tax returns for year 2013 by salaried individuals ( 31 July for electronic submission)
• Submission of personal tax return for year 2013 by individuals who do not prepare audited accounts ( 30 September for electronic submission)
• Payment of tax balance for 2013 through self assessment by individuals who do not prepare audited accounts
• Payment of special contribution for defence in relation to rents for the first half of 2014.
• Electronic submission of employers’ return for 2013
• Submission of provisional tax assessment for 2014 and payment of the first instalment
• Electronic submission personal tax returns for year 2013 by salaried individuals
• Payment of 2013 tax balance through self assessment by individuals and companies preparing audited accounts.
• Payment of immovable property tax for 2014
• Electronic submission of personal tax return for year 2013 by individuals who do not prepare audited accounts
• Payment of the second instalment of 2014 provisional tax
• Payment of special contribution for defence in relation to rents for the second half of 2014
• Payment of special contribution for defence on interest income that was no deducted at source.