High interest charges on corporate income tax assessments

Starting on the first of April 2014, the tax authorities will charge an (annual) interest of 8.25% on corporate income tax assessments relating to book years 2012 and beyond.

The interest meter starts running 6 months after the end of the tax year concerned, and stops 6 weeks after the assessment date (6 weeks is the payment term for assessments).

The period on which the corporate income tax interest is charged also stops:
• Max. 14 weeks after a request for a preliminary assessment is filed;
• Max. 19 weeks after the corporate income tax return is filed.

Interest is also reimbursed, but only if the tax authorities fail to assess within 6 months after the tax year, or if the assessment is imposed later than 3 months after filing the corporate income tax return
.
It is therefore important to request preliminary assessments for the tax years 2012 and 2013 this spring in case you expect a taxable profit for these years.

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Robert Bosma
Tax Advisor

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