- Interest rates on tax will change on 1 January 2024, but until then, the interest rates for withholding tax and corporate income tax will be frozen at 8%.
- For other taxes, the rate of interest on tax will be 6% effective from 1 July 2023.
- The Tax Inspector charges interest on tax if a taxpayer is delayed in paying tax, and pays interest on tax if it takes too long to assess a refund.
- The interest rate for corporate income tax and withholding tax is currently 8%, but it will increase to 10.5% on 1 March 2023 due to an increase in the main refinancing rate of the European Central Bank.
- However, the rates used for interest on tax and tax on overdue tax are expected to change fundamentally on 1 January 2024, and until then, the rate of interest on tax for corporate income tax and withholding tax is frozen at 8%.
- The rate of interest on tax for other taxes will be 6% from 1 July 2023, but it will be frozen at 4% for benefits through a legislative amendment with retroactive effect to 1 July 2023.
Source Deloitte
