Pre-assessment settlement can be requested during an inspection, and post-assessment settlement after the notice of assessment is served. Settled amounts become final and cannot be challenged in court.
Source: Tax Procedure Law No. 213 additional Arts. 1 and 11
Related terms
Tax inspectionThe tax administration investigating and establishing the accuracy of taxes payable through the taxpayer's books, records and documents.Tax loss penaltyA penalty imposed when tax is under-assessed because the taxpayer failed to fulfil tax obligations on time or fulfilled them incompletely.Advance taxTax paid in advance during the year by income and corporate taxpayers, in quarterly periods, on current-period earnings.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.