2019 Temporary Tax Return

The second instalment of the 2019 temporary tax is due by the 31 December 2019. The 2019 temporary tax assessment can be revised any time before the 31 December 2019. If the revised amount is higher than when it was first declared there will be a 2% interest payable on the difference between the revised amount and the original amount of the first instalment only.

If the tax paid by the temporary tax return for the year is less than 75% of the final tax liability a 10% penalty is levied on the difference between the amount of tax payable and the amount of the tax paid.

If the tax paid by the temporary tax return for the year is more than the final tax liability a tax refund will be made, inclusive of interest, when the audited financial statements are agreed by the tax authorities.