Tax Account Glossary
General due date
The 12th day of the calendar month. However, if the 12th falls on a Saturday, Sunday or legal holiday, the general due date will be the following banking day.
The settlement date on which payments and refunds are credited to Tax Account.
Period in question
The current taxable period, for which taxpayer is expected to declare and pay off tax obligations in Periodic Tax Returns on a self-initiated, un-prompted basis.
Periodic tax return
The declaration of taxes applicable to the period in question.
Either an incoming payment or a refund or similar award recorded in taxpayer’s favour in the Tax Account..
Tax payable or other amount that the tax office will debit from Tax Account.
An entry in the Tax Account. Transactions are either credit or debit transactions.
Control operation of Tax Account current balance, performed by the tax administration after the general due date, resulting in the printout of the Statement of account.
Difference between credit and debit sums on a certain day.
Reminder is shown on the Tax Account statement if there is deficit on the Tax Account.