Contents / tax calculation and payment

TAX CALCULATION AND PAYMENT

Tax and reporting period

Organisations Individual entrepreneurs
Quarterly advance payments No later than 25th day of the month following the expiry of the current reporting period
Tax return at the end of reporting period
Final payment upon expiry of the tax period No later than 31st March of the year following the expired tax period No later than 30th April of the year following the expired tax period
Tax return at the end of the year

See also
Tax accounting

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Tax accounting

Taxpayers must secure completeness, continuity and reliability of accounting of their business activities necessary for calculation of the tax base and the amount of unified tax. For these purposes organisations and individual entrepreneurs applying the simplified system of taxation hold the Income and Expenses Ledger, in which all business transactions for the reporting (tax) period must be reflected in chronological order basing on primary documents.

Rules for holding the Income and Expenses Ledger

  • The Income and Expenses Ledger may be held both in hard and electronic copies. If the Income and Expenses Ledger is held in electronic copy, it must be printed at the end of the quarter (year).
  • The Income and Expenses Ledger is to be started at the beginning of each year and must be stringed and numbered. The last page of the Ledger must indicate to the number of pages in it, and must signed and sealed by the head of the organisation (individual entrepreneur) and an official of the tax body before it is started.
  • Correction of mistakes in the Income and Expenses Ledger must be justified and must be signed and sealed by the head of the organisation (individual entrepreneur) with an indication to the correction date.
  • The Income and Expenses Ledger and the order of reflection of business operations in it are approved by the Order of the Ministry for Taxes and Charges