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14.6. Interest Compensation for Overpayment of Tax

Overpaid tax resulting from the income tax return entitles the taxpayer to current interest and penalty interest, as follows:

  • Current interest: this will accrue when the taxpayer has filed an application for the refund of the overpaid tax, from the moment of notification of a special notice or a decision that denies the refund.
  • Penalty interest: once the overpaid amount is confirmed, the tax authority will have to refund the excess tax within a defined term. Penalty interest will accrue if no refund is made within the set term.

Applications for refund of overpaid tax may be lodged up to 2 years from the date of the tax return.