Tax and customs late-payment interest rate cut from 0.40% to 0.20% per month

The late-payment interest rate due on late payment or under-declaration of taxes (article 1727 of the General Tax Code) and customs duties (article 440 bis of the Customs Code) is halved, from 0.40% to 0.20% per month, for interest accruing from 1 January 2018 to 31 December 2020. The rate of interest paid by the State on refunds, aligned with late-payment interest, falls in the same proportion. The 0.20% monthly rate was later kept beyond 2020 and still appears in article 1727 III of the General Tax Code.