Kazakhstan explains the tax refund procedure

December 13, 2023

On 8 December 2023, the State Revenue Committee of the Ministry of Finance of the Republic of Kazakhstan explained the procedure for returning an overpaid amount of tax, payment to the budget, and penalties, as well as the procedure for offsetting

See More

US: IRS keeps interest rates on overpaid and underpaid tax unchanged for Q1 2024

November 24, 2023

On 17 November 2023, the U.S. Internal Revenue Service announced that interest rates will remain unchanged for overpaid and underpaid tax for the calendar quarter beginning 1 January 2024. This means the interest rates remain the same as per the

See More

US: IRS publishes interest rates for the fourth quarter of 2023

August 26, 2023

On 25 August 2023, the U.S. Internal Revenue Service announced the interest rates for overpaid and underpaid taxes for the fourth quarter of 2023. Accordingly, the interest rates will increase for the calendar quarter beginning 1 October

See More

US: IRS publishes interest rates remain the same for the third quarter of 2023

May 26, 2023

On 22 May 2023, the U.S Internal Revenue Service announced that interest rates for overpaid and underpaid tax for the calendar quarter beginning 1 July 2023, which will remain unchanged from the second quarter. For individuals, the rate for

See More

US: IRS publishes interest rates on overpaid and underpaid tax for Q2 of 2023

February 22, 2023

On 13 February 2023, the Internal Revenue Service announced the interest rates for the calendar quarter beginning April 1, 2023. The rate will remain same as first quarter. Here is a complete list of the new rates: 7% for overpayments (payments

See More

US: IRS publishes interest rates on overpaid and underpaid tax for Q1 of 2023

December 06, 2022

On 29 November, the Internal Revenue Service announced that interest rates will increase for the calendar quarter beginning January 1, 2023. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily, up

See More

Greece introduces simplifies tax refund procedure for legal entities

November 20, 2022

On 14 November 2022, the Greek Public Revenue Authority (AADE) published Decision A. 1160 in the Official Gazette regarding the simplified income tax refund procedures for legal entities. Accordingly, if entities file their corporate income tax

See More

Belgium: Parliament approves amendments on statute of limitations

November 17, 2022

On 10 November 2022, the Belgian parliament approved the law amending the statutes of limitations periods. The statute of limitations periods is set as follows: A standard 3-year statute of limitations where a return has been timely filed.

See More

France: Court decides the statute of limitations for recovery of taxes

October 21, 2022

Recently, the Administrative Court of Montreuil issued a decision regarding the statute of limitations for the recovery of tax claims following a collection notice. The statute of limitations for recovery is 4 years, although this may be extended by

See More

Poland increases late payment interest rates in seventh time

September 26, 2022

On 20 September 2022, the Polish Ministry of Finance published the increased interest rates on tax arrears as well as on the late payment. This is the 7th time; Poland increases the rate in 2022.  Accordingly, the standard rate is increased from

See More

Argentina: MoE publishes new late tax payment and refund interest rates

September 10, 2022

On 23 August 2022, the Argentine Ministry of Economy published Resolution 559/2022, which provides new rates for late tax payments and reimbursement interest. The latest repeals Resolution 598/2019, which established rules for setting interest rates

See More

US: IRS publishes interest rates on overpaid and underpaid tax for Q4 of 2022

August 20, 2022

On 15 August 2022, the Internal Revenue Service announced that interest rates will increase for the calendar quarter beginning October 1, 2022. For individuals, the rate for overpayments and underpayments will be 6% per year, compounded daily, up

See More

Poland increases late payment interest rates in fifth time

June 25, 2022

On 15 June 2022, the Polish Ministry of Finance fifth time published the increased interest rates on tax arrears as well as on the late payment. Accordingly, the standard rate is increased from 13.5% to 15% per annum; the reduced rate (applies when

See More

US: IRS publishes interest rates on overpaid and underpaid tax for Q3 of 2022

May 30, 2022

On 20 May 2022, the Internal Revenue Service announced that interest rates will increase for the calendar quarter beginning July 1, 2022. The rates will be: 5% for overpayments (4% in the case of a corporation).2.5% for the portion of a

See More

US: IRS releases interest rates on overpaid and underpaid tax for 2Q of 2022

February 25, 2022

On 23 February 2022, Internal Revenue Service announced that interest rates will increase for the calendar quarter beginning April 1, 2022. The rates will be: 4% for overpayments (3% in the case of a corporation);1.5% for the portion of a

See More

US: IRS releases interest rates on overpaid and underpaid tax for Q1 of 2022

November 25, 2021

On 23 November 2021, the Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning January 1, 2022. The rates will be: 3% for overpayments (two (2) percent in the case of a corporation),0.5%

See More

Thailand extends tax refunds deadline in MAP cases

September 20, 2021

On 23 August 2021, the Ministry of Finance of Thailand has issued a notification that provides an extension of the deadline to request a corporate or individual income tax refund for certain eligible persons whose standard time to request a tax

See More

German: Federal Constitutional Court voids 6% interest rate on back taxes

August 27, 2021

On 18 August 2021, the Federal Constitutional Court has published a press release stating that interest of 6% pa on tax back payments and tax refunds from 2014 is unconstitutional. Earlier, the First Senate of the Federal Constitutional Court

See More