Taxpayers have until the end of today to proceed with the payment of the 2025 income tax to the Tax Authority. This is the deadline established for the fulfillment of this tax obligation.
In the calculation of income tax, the Tax Authority takes into consideration the value of deductions to which each taxpayer is entitled. These deductions are subtracted from the calculated tax liability.
The sum of deductions can determine the final result of the income tax assessment. If the value of deductions exceeds the tax due, the taxpayer receives a refund from the State.
On the other hand, if the value of the tax exceeds the applicable deductions, the taxpayer is obligated to pay money to the State to make up the tax due.
