Monthly VAT and withholding returns, quarterly advance tax returns and the annual corporate income tax return are the main elements of the tax calendar. Deadlines are sometimes extended by announcements of the Ministry of Treasury and Finance, so keeping up to date is important.
Related terms
Tax returnThe official document in which a taxpayer reports the tax base and the tax calculated to the tax administration.Advance taxTax paid in advance during the year by income and corporate taxpayers, in quarterly periods, on current-period earnings.Corporate income taxThe tax levied on the earnings of capital companies, cooperatives and other corporate entities.Arm's length principleThe principle that transactions between related persons should be carried out at the prices and on the terms that would apply between independent parties with no such relationship.Capital gainGains of individuals from disposing of certain assets and rights that are subject to income tax.Certified public accountant (SMMM)A professional authorised to keep taxpayers' books, prepare their financial statements and advise on accounting and tax matters.
Last updated: October 22, 2026 · This definition is for general information only.