Annual Tax Finalisation

About the Annual Tax Finalisation calculator

PIT is withheld monthly but assessed annually, and the two rarely agree. This compares the tax you actually owe for the year against what was already withheld, giving the refund or the balance payable. The usual reasons a refund arises: you worked fewer than twelve months but still receive the full twelve-month personal deduction; uneven income meant high months were withheld at a marginal rate the year never reaches; or a dependent was registered mid-year.

Basis & method

• Art. 22 Personal Income Tax Law — the progressive table is published in both monthly and annual columns; the annual thresholds are 12× the monthly ones, with identical rates.
• The personal deduction is granted for all twelve months of the tax period regardless of how many months were actually worked; dependents are counted by the months they were actually registered.
• Filing deadline: 31 March of the following year for self-filers. A refund is never paid automatically — it must be claimed.

This tool is for reference, not tax or legal advice. A real payslip also depends on company-specific arrangements (who bears the insurance, caps on tax-exempt allowances, internal pay grades). Check with your C&B team or the tax authority before acting on it.