Tax office will assess quarterly prepayments
The tax offce will assess quarterly prepayments based on the
prior year’s tax or on estimates on income not subject to with-
holding taxes. These prepayments are due on March 10, June
10, September 10, and December 10.
The tax authorities are entitled to impose interest for late pay-
ment of tax, which applies to income, corporation, trade, and
value-added tax claims. The interest rate is 6.0% p.a. Or 0.5%
Any taxpayer subject to unlimited tax liability who is not specif-
ically required to fle an income tax return may nevertheless do
so in order to be assessed for income tax. This can be useful,
for instance, when high costs of earning non-business income
or business-related expenses are incurred or if income is earned
for only a part of the assessment period.
The filing of an income
tax return is possible as long as the assessment period is not yet
final and conclusive.