The new course has already begun. From 20 February, banks are obliged to automatically make a XNUMX% withholding tax on the amount of transfers arriving from other countries to natural persons, non-commercial entities and equivalent simple companies. It will then be up to the account holder to demonstrate that the sums are not income compensation.
The introduction of the new system comes with the amendment to the rules on tax monitoring to European law 97 of 2013. The goal is to facilitate the work of the financial administration in intercepting capital that is illegally abroad.
To avoid the tax, it is necessary to self-certify, even in advance, that the flows do not constitute capital or investment income. This can also be done later, by requesting the return of the incorrectly applied withholding tax by February 28 of the year following that of the levy.
All withholding taxes applied up to June must be paid in a lump sum by 16 July.
