Overpaid Tax Liabilities

When the amount of the tax liability paid is greater than the amount of the tax assessed in the tax assessment notice or in the tax declaration, the tax administration transfers the overpaid amount to the account of other tax liabilities unpaid by the taxable person.

Such a process is carried out automatically by the tax administration itself, within the first subsequent tax period following the period in which the taxable person results in a tax credit.

For corporate income tax, this is done within the first month following the month in which the taxable person results in a tax credit.

When the amount of the excess tax credit is greater than the amount of other unpaid tax liabilities of the taxable person, the remaining difference, upon the written request of the taxable person, may be:

• Automatically refunded to the taxable person within 30 calendar days from the date the overpaid amount was deposited or from the date the legal conditions for a refund were met;
• Transferred to the account of the taxpayer's future tax liabilities.

Source: General Directorate of Taxes.