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14.3. Calendar of Important Compliance Events

Tax Year

The calendar year is the fiscal year. However, enterprises which start their activities during the second semester of a given year, may use a tax year ending on 31 December of the following year.

Taxpayers are required to renew their tax identification number by 31 March every year.

Tax Return Filing

Corporate tax returns must be filed before 1 April following the end of the reporting tax year. Small companies eligible for the simplified tax regime must file their tax return by 1 February following the end of the reporting tax year.

Tax Payments

Effective 1 January 2022, new provisions governing advance tax installment payment on professional profits are introduced, as under:

  • Monthly installments are due in the months of April to December;
  • Monthly installment is equal to 8% of the tax established on the taxable profit in the previous year, which is established by way of a notice of payment from the tax authority; and
  • Installments are due by the 25th of each month with payment allowed up to the 5th of the following month, after which penalties are imposed.

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