As of January 1, 2013 the “levy interest” is replaced by “tax interest”. The new regulation is applicable for tax years/bookyears starting as of 2012.
For personal income tax and corporate income tax the interest will be calculated during the period that starts 6 months after the end of the tax year/bookyear and runs until 6 weeks after the date of the assessment. For other taxes different calculation periods apply.
On tax refunds no interest will be reimbursed anymore, unless the tax authorities take more than 13 weeks to issue a (preliminary) assessment after filing of the tax return or take more than 8 weeks to reply to a request for a preliminary refund.
For 2013 the tax interest is equal to the statutory interest for non-commercial transactions. As of January 1, 2013 this interest is determined at 3%.
For 2014 the above will continue for personal income tax, but with a minimum interest rate of 4%. However, for corporate income tax the interest will be equal to the statutory interest for commercial transactions with a minimum of 8%.
For tax year/bookyear 2012 tax interest due can be limited by filing a request for an (additional) preliminary assessment, or by filing your tax return before April 1, 2013. For broken book years different data apply. For expected tax refunds it could be recommendable to apply for a preliminary refund. Of course LIMES international will be pleased to assist in this respect.
