Tax calculation and payment by individual entrepreneurs

TAX CALCULATION AND PAYMENT BY INDIVIDUAL ENTREPRENEURS

The tax is paid by advances, with the final settlement at the end of the tax period. The amounts of taxpayer's advance payments for a current tax period are calculated by tax bodies. Advances are paid against tax notifications.

Amount of advance payments for current tax year can be determined by two ways:

on the basis of the amount of the tax base of a given taxpayer for prior tax period
if an entrepreneur starts its activity after the beginning of the year, the income stated in the tax return on personal income tax which must be filed within a five-day term upon expiry of one month after the commencement of the activities.

Type of payment	Amount of payment	Term for payment
Advance payment:
January - June	1/2 of annual amount of advance payments	Not later than July 15 of the current year
July - September	1/4 of annual amount of advance payments	Not later than October 15 of the current year
October - December	1/4 of annual amount of advance payments	Not later than January 15 of the following year
Payment according to results of tax year	Margin between the tax amount calculated according to results of tax year and the aggregate amount of tax advance payments	Not later than July 15 of the following year

Contents / tax calculation and payment by individual entrepreneurs

TAX CALCULATION AND PAYMENT BY INDIVIDUAL ENTREPRENEURS

Tax payment