This section describes how banks and pension providers must declare and settle PAL tax when a holder of pension savings under Section 1(1) of PAL terminates his or her plan wholly or in part during the year of taxation.

The section covers

• Final calculation of the basis of taxation and the taxable part thereof as well as declaration and payment of PAL tax upon the termination of a pension plan (D.1.3.1)
• Interest in connection with overdue payment (D.1.3.2)