1) When should FS3’s, FS5’s and FS7’s be submitted?
– FS3’s and FS7’s are due on the 15th of February of the following year and FS5’s need to be submitted on the 15th day following month end.
2) On which type of income does the 15% tax rate apply on a part time job?
– All of the below conditions need to be met:
a) The employment has to be registered with ETC
b) Less than 30 hours a week are worked in relation to such part time job
c) One does not have a work with the Government
d) If an employees has a full time and a part time the part time and full time have to be employments with different employers
e) The individual is married and his spouse has a full time employment
If the above conditions are not met in full that income will be added to the main income and be taxed accordingly. If 15% applies the part time income must not exceed EUR 7,000. Any amount above EUR 7,000 should be added to the Main income and be declared in the tax return.
3) How is FSS calculated?
This is calculated through the IRD website providing a spread sheet for such workings.
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