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| June 16, 2020

New tax liberation package

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On 10 June, the finance minister issued a new decision on waiver of tax, tax accessories and administrative fees due to extraordinary measures, which follows up on decision issued previously and includes especially the following measures:

  • Waiver of all sanctions (fines and late payment interests) for late submission, the deadline for submission and payment of the tax is in fact prolonged for:
    • the income tax declaration for the taxable period of the year 2019 until 18 August 2020 (this does not apply for entities administered by the Specialized Financial Office)
    • the real estate acquisition tax declaration with a deadline for submission from 31 March to 30 November 2020 (entering the title in the land register from December 2019 to August 2020) to 31 December 2020
    • announcement of exempt personal income to 1 July  2020
    • settlement of the personal income tax from employment for the taxable period of the year 2019 by 31 May 2020.
  • Waiver of value added tax for gratuitous supplies protective equipment, disinfectant preparations and other selected goods, and for gratuitous supplies of goods, which have been used for its production, in the period from 18 May 2020 to 31 July 2020.
  • Waiver of late payment interest and the interest on the deferred sum incurred from 12 March 2020 to 31 December 2020 for entities, for whom, based on an individual request, deferral of tax payment or its division into instalments was permitted for reasons relating to the spreading of the coronavirus.
  • Waiver of administrative fee for accepting a request for waiver of late payment interest or interests on the deferred sum, for waiver of fine for non-submission of a control report, for permission of deferral of tax payment or division of its payment into instalments, for return of tax in import or waiver of customs charges underpayment, for permitting a tax or customs charges allowance, for issuing a clearance certificate or a confirmation of the balance of the personal tax account, if the request is submitted in the period from Aug 2020 to 31 Dec 2020.

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