Please be reminded that the 1st of August 2019 is the deadline for the payment of the final tax for the year 2018 for companies and self-employed individuals preparing audited financial statements.
In case the tax balance is not paid by the end of the month of the deadline date (i.e. by 31 August 2019) a 5% penalty applies on the tax due. In addition, the tax balance will be subject to interest at the rate in force (currently at 2% per annum) until the settlement of the tax. Finally, if the tax balance is not settled within two months after the deadline date, an additional 5% penalty may be imposed.
The timely payment of the final tax (tax code: 300) can be made through jccsmart.com (JCC), the card payment processing system that facilitates the electronic settlement of taxes. To be able to pay the tax via JCC, a valid debit or credit card is required (please refer to the attached).
Please note that overdue payments cannot be settled via JCC and can only be processed at the District Offices of the Tax Department.