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The Taxpayers that are required to file their income tax declaration at the time stipulated in the Law on Income Tax and do not declare it, are subject of the sanctions imposed bythe tax authorities due to the omission of such declaration.

Article 103 of the Tax Code foresees a sanction of 10 tax units for every unmade declaration, the fine will be increased on 10 tax units for each additional violation, up to a maximum of 50 tax units.

For the case of the declarations presented out of the foreseen term, the fine will be 5 tax units, which will be increased in 5 more tax units for every new infraction, up to a maximum of 25 tax units, plus the sanction foreseen for the delay of the payment of the tax, meaning, a fine of 1 per cent (1 %) of the unpaid tax - and the overdue Interests. (Legal basis Art. 103 and 110 Tax Code.).