Fines and interest for late payment

If your payment is late, you will be charged fines and interest.

If your payment is late, you will have to pay:

  • fine of 10% of the unpaid tax
  • An interest of 0.65% of the unpaid tax for every month of delay.

For debts interest will be continuously added for every new month of delay.

Assumptions

Total tax assessed: 60 € (divided into 2 installments)
Tax to pay April 30: 30 €
Tax to pay September 30: 30 €
Interest rate: 0.65% on upaid tax
Fines: 10% on upaid tax

In this example installment 1 is paid on September 30, that is 5 months of delay. Interest will be applied for 5 months.

Calculation of fines and interest

Fines: 3.00 € (30 € * 10%)
Interest: 1.00 € (30 € * 0.65% * 5 months)
Total: 4.00 €

The tax to pay is 30 €, but due to late payment the amount to pay is 34 €.
The way interest and fines is calculated is also shown in this table:

Interest 0.65% on unpaid taxFine 10% unpaid tax
May0.20 € 3.00 €
June0.20 €
July0.20 €
August0.20 €
September0.20 €
TOTAL1.003.00 €

Total interest and fines 4.00 €.

Assumptions

Total tax assessed: 60 € (divided into 2 installments)
Tax to pay April 30: 30 €
Tax to pay September 30: 30 €
Interest rate: 0.65% on unpaid tax
Fines: 10% on unpaid tax

In this example installment 1 and 2 is paid on December 30.

Calculation of fines and interest

Installment 1:
Fine: 3.00 € (30 € * 10%)
Interest: 1.60 € (30 € * 0.65% * 8 months)
Total: 4.60 €

Installment 2:
Fine 2: 3.00 € (30 € * 10%)
Interest: 0.60 € (30 € * 0.65% * 3 months)
Total: 3.60 €

The total extra cost for late payments in this case is 8.20 € (4,60 + 3.60).
The assessed tax is 60 € , but due to late payment the debt by December is 68.20 €.

The way interest and fine is calculated is also shown in the table below:

Installment1Installment2
Fine 10%Interest 0.65%Fine 10%Interest 0.65%
May3.00 €0.20 €
June0.20 €
July0.20 €
August0.20 €
September0.20 €
October0.20 €3.00 € 0.20 €
November0.20 €0.20 €
December0.20 €0.20 €
TOTAL3.00 €1.60 €3.00 €0.60

Total interest and fines 8.20 €.

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