This week marks the final window for taxpayers to secure a 4% tax discount on the amount determined after their 2026 income tax return is finalized. The deadline falls on 15 May 2026 and applies primarily to individuals with a tax liability—those who owe money—to whom the discount is available if they choose to pay the full amount in a single payment by 31 July 2026. This ensures the maximum possible reduction on the final bill.
Discount Phases Out After 15 May
After 15 May, the 4% discount begins to taper off. Meanwhile, the general filing deadline for individual taxpayers remains 15 July 2026. A special extension until 31 July 2026 applies only to those affiliated with legal entities maintaining simplified accounting records.
It’s important to note that simply submitting the return before 15 May does not guarantee the full benefit. For example, a taxpayer who files early but opts for eight monthly instalments forfeits the same advantage as someone who pays the entire amount upfront.
Common Errors That Can Cost You
Rushing through the process can lead to costly mistakes. Before final submission, taxpayers should carefully review pre-filled income data, tax withholdings, supporting receipts, residence details, rental income, and information on dependents.
Extra caution is needed for those who held a second job or received income from multiple employers during the year. Low or zero withholding throughout the year may result in a significantly higher tax liability appearing on the final assessment notice.
Property owners also face heightened scrutiny. Rental income, lease declarations, vacant properties, and unpaid rent must all align precisely with the figures reported on the return. Incorrect classification of a property (e.g., primary residence vs. secondary), inaccurate square meterage, or missing information could alter the final tax calculation—or trigger a tax audit.
For taxpayers expecting a tax refund, attention should shift to the IBAN provided and any potential set-offs. A refund does not always mean immediate bank credit: outstanding, legally confirmed debts may be deducted first.
Those facing a tax liability have a practical choice: pay in full by 31 July 2026 to claim the 4% discount—or spread payments across eight months without the same benefit.