Tax deadlines do not wait for missing documentation
September brings several regular tax obligations for companies and sole traders, making it important for businesses to provide their accounting documentation on time.
These obligations include advance payments of corporate and personal income taxes.
For legal entities, this includes advance payments of Corporate Income Tax (CIT), while individuals carrying out business activities may be required to make advance payments of personal income tax on income from business activities.
An advance payment is not the final tax liability
Entrepreneurs sometimes view tax advances as simply another monthly obligation.
However, these payments are directly connected to the expected annual tax liability.
An advance payment represents a payment towards the final annual tax liability, which is subsequently taken into account when the annual tax return is prepared.
If a company’s financial performance changes significantly during the year, it therefore makes sense to monitor the relationship between advance tax payments and the expected annual result.
Provide documentation on time
One of the most common accounting problems is not complicated tax legislation but documentation that arrives immediately before a deadline.
When accountants receive information on time, they have sufficient opportunity to review:
purchase invoices → sales invoices → bank transactions → tax records → tax calculations.
This reduces the risk of errors and subsequent corrections.
👉 K2A advises: Do not send accounting documentation on the last day before a tax deadline. Well-organised monthly accounting means fewer corrections, lower risk and a much clearer overview of your company’s financial position.