This is an instalment loan allowing you to finance your tax several
months in advance. In this way you can take advantage of substantial
tax reductions.
Advantages
The interest rate is very appealing
Interest is tax-deductible
Spreading of your financial burden: you can keep
your cash for other investments
Loan repayment in the same accounting year
ING takes care of the management of your advance tax payments
Your contract is automatically renewed every year
with the opportunity to adapt it to your needs.
ING pays your estimated
tax amount to the Finance Ministry
for the current financial year. You repay this amount in 12
equal monthly instalments over the same accounting year,
which thus allows you to spread the cost of this financial burden
rather than paying the entire sum in one go.
This is an instalment loan allowing you to finance your tax several
months in advance. In this way you can take advantage of substantial
tax reductions.
Advantages
The interest rate is very appealing
Interest is tax-deductible
Spreading of your financial burden: you can keep
your cash for other investments
Loan repayment in the same accounting year
ING takes care of the management of your advance tax payments
Your contract is automatically renewed every year
with the opportunity to adapt it to your needs.
Functioning
ING pays your estimated tax
amount to the Finance Ministry for the current financial
year. You repay this amount in 12 equal monthly instalments
over the same accounting year, which thus allows you to spread the cost of
this financial burden rather than paying the entire sum in one go.
Example for an individual
Basic Information
Tax estimate (1)
EUR 25,000
Financing
ATP Financing
EUR 25,000
Annual rate of interest | actual amount to repay
3.75 %
EUR 25,517.76
Your benefit
Without ATP
With ATP
Total cost of financing after recovery of interest (2)
EUR 25,048.97
Surcharge effectively due (3)
EUR 1,609.88
EUR 0
Tax payment
EUR 25,000
EUR 0
Total cost
EUR 26,609.88
EUR 25,048.97
In this example, your gain stands at EUR
1,560.91
Example for a company
Basic Information
Tax estimate (1)
EUR 25,000
Financing
ATP Financing
EUR 25,000
Annual rate of interest | actual amount to repay
3.75 %
EUR 25,517.76
Your benefit
Without ATP
With ATP
Total cost of financing after recovery of interest (4)
EUR 25,341.77
Surcharge effectively due (5)
EUR 1,738.13 EUR
EUR 0
Tax payment
EUR 25,000
EUR 0
Total cost
EUR 26,738.13
EUR 25,341.77
In this example, your gain stands at EUR
1,396.35
(1) on income which gives rise to a surcharge.
(2) In this example, we estimate the tax recovery on interest at 46%.
(3) The amount used as a basis for the surcharge calculation equals 106% of
taxation due on income giving rise to a reduced surcharge on advance payments
and other items which can be offset against tax liabilities relating to this
income. To obtain the total additional amount payable in principle, the notional
additional tax charge is multiplied by 6.75%. In the case of an individual,
however, only 90% of the surcharge is retained. The surcharge due is equal
to the surcharge minus the ATP advantage (9%).
(4) In this example, we estimate the tax recovery on interest at 30%.
(5) The amount used as a basis for the surcharge calculation equals 103% of
taxation due on income giving rise to a reduced surcharge on advance payments
and other items which can be offset against tax liabilities relating to this
income. To obtain the total additional amount payable in principle, the notional
additional tax charge is multiplied by 6.75%. The surcharge due is equal
to the surcharge minus the ATP advantage (9%).
Description