provide adequate evidence that confirms your actual income.
This documentation should then be submitted to the local authority. You can’t just estimate or guess your income — doing so may result in significant penalties.
Income can come in different forms, such as wage statements or independent freelancer statements.
Currently, in addition to invoices, we also accept bank statements as proof of income.
Our tax period usually spans one year. Although this may vary by state, here it runs from April to the end of March the following year.
During this period, all of your employers are required to provide you with a wage statement.
If you haven’t received it within a month after the fiscal year ends, you should contact us — we’ll follow up and request that your employer sends it.
However, employment statements must be requested directly from your employer, as we cannot assist with that.
Failure to file or pay your taxes, or attempts to evade tax responsibilities, is punishable by law.
In some cases, if you don’t file an annual tax return, you could face a penalty of up to $3,000.
So it’s crucial that you file your taxes promptly — the government takes this seriously.
Everyone should be sure to file on time.
Now that you have a basic understanding of taxation, I’d like to share some additional helpful tips.
If you purchase a new car during the tax period, you’ll need to determine the latest tax rate and pay a line item tax on it.
For first-time tax filers, I recommend you avoid tackling multiple types of taxes initially.
Start with just one — it will make the calculation much easier.
Also note: most people now use computers to manage their taxes.
When using a computer or subscribing to an online tax service, you’ll find several advantages over in-person filing.
One major benefit is that you can save your progress and resume preparation later.
Tax data doesn’t require much storage space, so there’s no concern about your device running out of room.
Moreover, online filing significantly reduces the chance of mistakes.
Most platforms include automated checks to make sure you don’t miss any required information.
Traditionally, you would visit the tax office, speak with staff, and fill out physical forms.
Now, however, you can simply download the forms from our website.
If needed, you can also complete a short questionnaire, which will guide you on which forms to fill out.
And if you’re stuck, you can call our support team and speak with someone directly.
Thank you once again for attending tonight’s presentation.
Please remember: my colleagues and I at the Central Government Tax Agency are always happy to assist you with your tax preparation or answer any questions you may have.