A taxpayer, except for a non-profit organization and a taxpayer referred to in Article 34 of this law, with the exception of a taxpayer undergoing reorganization, pays corporate income tax in the form of monthly advance payments during the year. The taxpayer determines the amount of these payments based on taxable income, excluding capital gains and losses, as reported in the tax return for the previous year or the previous tax period. This tax return also contains relevant data for determining the advance payment amount for the current year.
Taxpayers must settle their advance payments by the 15th of each month for the previous month. If they submit a revised tax return, they may adjust the advance payments based on the new data.
Until they begin making payments based on the new return, taxpayers continue to pay advances based on the amount from the last month of the previous tax period. In case of delays in advance tax payments, taxpayers are required to calculate and pay interest.
If there are significant changes in a taxpayer’s business operations, tax instruments, or other circumstances that materially affect the amount of the monthly advance tax payment, the taxpayer may submit a tax return with a tax balance sheet, as specified in Article 63, paragraph 1 of this law. This tax return should reflect the relevant data for modifying the monthly advance tax payment and must be filed no later than 30 days after the end of the period for which the tax balance sheet is prepared.
On the other hand, those not required to make monthly advance payments settle their corporate income tax for the entire tax period according to the prescribed deadlines for filing tax returns. This framework plays a crucial role in corporate income tax management and facilitates financial planning for businesses.
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