M. Target Group kindly reminds that submission of 2022 provisional tax return and payment of the second instalment of Provisional Tax by both individuals and companies is due by 31 December 2022.
Provisional Tax – 2nd Instalment
The provisional tax return requires the estimation of the provisional taxable profit for the current year and the payment of the respective provisional tax liability in two equal instalments:
– 1st instalment: on or before 31 July 2022
– 2nd instalment: on or before 31 December 2022
It is noted that the final tax liability for the tax year 2022 should be settled by 1 August 2023.
Whom does it concern?
The following persons should consider whether a provisional tax payment would arise based on their expected annual taxable income:
- Individuals with taxable income other than salaries, pensions, dividends and interest;
- Companies with taxable income.