Collection of Liabilities

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Collection of Liabilities

Taxes and duties, which have not been paid on the date they are due, are in default (liabilities).

Collection agencies for the National Treasury are obliged by law to collect all claims. Collection efforts for payments in default cannot be delayed even if a tax return has not been filed or taxation has been disputed.

To prevent collection efforts, the best course of action is to contact the collection agency in question and make a payment schedule.

Penalty interest is computed on overdue claims if the claim has not been paid on the final due-date. In instances decided by law, a mark-up may be added to the amount of the claim, which is computed from the principal. It is not possible to negotiate nor rescind interests and mark-up.

It is in the best interest of the debtor to pay his/her tax liabilities at the earliest possible time to prevent the accumulation of non-refundable collection costs and penalty interests.

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