Tax Credits

A person's tax credits with the Treasury's collection agencies can be due to refunds from the taxation system that are decided by law, e.g. interest relief, child benefit and refunds on value-added tax.

Tax credits can also be due to a reduction in taxation, but only if the claim has been paid before the taxation change. It can also come into being because of other excess payments on the tax payer's behalf.

The National Treasury's collection agencies are required to set off credit balance against the tax payer's liability. Specific rules are in effect regarding the offset of child benefit and interest relief.

Form for notifying the Directorate of Internal Revenues of a bank account to which to transfer credit balance:

A request to the Director of Inland Revenue's collector for allocation of payments (pdf)


Overpayment

In the case of overpayment of taxes and levies the credit is paid to the debtor, unless he/she has other tax liabilities, in which case the credit is balanced against any overdue liabilities.

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Interests on Credit

A debtors credit balance with the National Treasury's collection bears interests if it has not been paid within 30 days. In case of nonpayment within that time frame, the interests start accumulating.

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Interest Relief

The National Treasury's collection agencies are responsible for the payment of interest relief. It is necessary to provide the relevant agency with information on a bank account into which the payment can be deposited.

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Child Benefit

It is necessary for those eligible to receive child benefit to provide the relevant agency with information on a bank account into which the payment can be deposited.

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