|
End
of month |
Payment of tax deducted from
employees salary (PAYE); Payment of special
contribution for defence withheld from Dividends or Interest;
Payment of social insurance
deducted from employee’s emoluments. |
|
30
January |
Final deadline for the avoidance of penalty of 5% for
the payment of Corporation Tax based on the tax return of the
penultimate year, if not paid on 1st August of previous year. |
|
31
January |
Submission of declaration of deemed dividend
distribution (IR623) for the year ended 31 December two years ago. |
|
30 April |
Submission of the previous
year personal returns of individuals (IR1) where their gross income
arises exclusively from salaried services (1) & (2);
Payment of premium tax for
life insurance companies first instalment for the year;
Submission by employer of
the total payroll of the previous year (From I.R.7).
|
|
30 June |
Submission of previous
year personal returns of individuals not preparing audited financial
statements (1) and payment of tax via a self-assessment method;
Payment of special
contribution for defence for the first six months of the year.
|
|
1 August |
Submission of provision
tax declaration and payment of first instalment of provisional tax
for the year; Payment of previous year’s
final corporation tax under the self-assessment method;
Payment of previous year’s
income tax based on the assessment raised by the Commissioner of
Income Tax;
Payment of previous year’s
income tax under the self-assessment method by individuals preparing
audited financial statements.
|
|
31
August |
Payment of premium tax for
life insurance companies – second instalment for the year. |
|
30 September |
Payment of provisional tax
– second instalment for the year; Payment of immovable
property tax for the year.
|
|
31 December |
Submission of previous
year audited financial statements and tax returns (2);
Payment of provisional tax
– third and last instalment for the year;
Payment of second
instalment of special contribution for defence for the last six
months of the year;
Payment of premium tax for
life insurance companies – third and last instalment for the year.
|
|
Notes
|
1. Physical persons
submit returns only when their gross income exceeds €19.500;
2. An individual is obliged to submit audited financial
statements if the annual turnover exceeds €68.344 |
|
Interest: The official
rate as set by the Ministry of Finance and published in the
official Government Gazette is 8% per annum for all amounts due
after 1/1/2007. Outstanding amounts before 1/1/2007 will be
charged with 9%.
Penalties: Beyond the interest rate above, if the
above-mentioned deadlines are not adhered to, there is
additional penalty of 1% to 11% is chargeable depending on the
circumstances for. |
