If your payment is late, you will be charged fines and interest.
If your payment is late, you will have to pay:
- A 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.
Example 1: Installment 1 paid in September
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 tax | Fine 10% unpaid tax | |
| May | 0.20 € | 3.00 € |
| June | 0.20 € | |
| July | 0.20 € | |
| August | 0.20 € | |
| September | 0.20 € | |
| TOTAL | 1.00 € | 3.00 € |
Total interest and fines 4.00 €.
Example 2: Installment 1 and 2 is paid on December 30
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:
| Installment | 1 | Installment | 2 | |
| Fine 10% | Interest 0.65% | Fine 10% | Interest 0.65% | |
| May | 3.00 € | 0.20 € | ||
| June | 0.20 € | |||
| July | 0.20 € | |||
| August | 0.20 € | |||
| September | 0.20 € | |||
| October | 0.20 € | 3.00 € | 0.20 € | |
| November | 0.20 € | 0.20 € | ||
| December | 0.20 € | 0.20 € | ||
| TOTAL | 3.00 € | 1.60 € | 3.00 € | 0.60 € |
Total interest and fines 8.20 €.