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Reminder for 1st provisional tax instalment for tax year 2021

We would like to remind you that the payment deadline for the 1st provisional tax instalment for tax year 2021 is the 31st of July 2021.


Obligation for provisional tax payment The following persons have an obligation to pay provisional tax, based on their expected annual taxable income for tax year 2021:

  • Individuals with taxable income other than salaries, pensions, dividends and interest, and

  • companies with taxable income.

Persons with no taxable income, do not have an obligation to pay provisional tax. Payment of provisional tax The provisional tax is calculated by applying the relevant tax rates (depending on whether the taxpayer is an individual or a company) on the expected taxable income for the year, after taking into account any overseas tax credits. It is payable in two equal instalments, as follows:

The timely payment of provisional tax can be made through the following electronic platforms:

  • (JCC), by clicking on Tax Department / Self Assessments / Temporary Assessment (Self-Assessment) - (0200), or

  • online banking, using the unique Payment Reference Number (PRN) previously created through the Tax Portal of the Tax Department (TD).

Payments made after the effective deadline can only be made via online banking and will be subject to interest at the current rate of 1,75% per annum plus a 5% penalty on the tax due. An additional penalty of 5% may be imposed by the TD if the tax remains unpaid two months after the statutory deadline. 10% additional tax in case of underestimation In case the provisional taxable income declared is less than 75% of the final taxable income for the year, the taxpayer is required to pay an additional tax equal to 10% of the difference between the final tax due and the provisional tax paid. Revised provisional tax calculation Taxpayers can revise their provisional tax calculation (upwards/downwards) until 31 December 2021. It is noted that for downward revisions, Forms TD.5 (for individuals) and TD.6 (for companies) should be submitted. We are at your disposal to assist you with the calculation of the provisional tax and the administration of the provisional tax payments.



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