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tax advance

Tax advance payment is a requirement arising in multiple tax types the purpose of which is to ensure continuous revenue for the budget. 

The taxpayer fulfils the tax advance payment obligation by way of self-assessment. 

Types of tax advance: 

  • personal income tax advance deducted by the employer or payer 
  • personal income tax advance payable by the private person in the case of income not deriving from a payer 
  • corporate tax advance 
  • local business tax advance 
  • small business tax advance 

The taxpayer may request the modification of the tax advance if it pays the advance on the basis of data of the previous period (year, quarter or half year) and according to its calculations, the tax amount will not reach the amount of the tax advance payable based on the data of the previous period. 

If the tax authority prescribed payment of the tax advance in equal instalments, the taxpayer may, in justified cases, request payment of the tax advance in different amounts. 

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