Covid-19

Latest measures introduced 27th March – Crisis package 3

In a pressconference on Friday the government has introduced further releifs for businesses. The main measures are related to a delayed date of payment for many of the direct and indirecet taxes for businesses. Please be aware that the filing deadlines have not been changed only the payment deadlines are postponed. In addItion the authorities have taken further measures by stopping the fines for late submission of several tax and indirect tax reports. Lastly, some indirect taxes will be reduced for a limited time period to help businesses in this crisis situation.

Here is an overview:

INDIRECT TAXES DEADLINES AND FINES

Submission dates for VAT are not changed however the fines for late filing are temporarily stopped for 1st term (Jan / Feb)  and 2nd term (March/April)

Deadline for payment of VAT for 1st term (Jan/Feb) is postponed to 10th June

Deadline for payment of NIC extended from 15th may to 15th August (withheld tax deadline has not been changed – still 15th May)

No fines will apply if submission of tax return is not held (31st May).

CHANGE IN DEADLINES SELF-EMPLOYED PERSONS AND BUSINESSES

  • Postponment of prepaid tax for sole proprietorship
  1. 15th March changed to 1 May.
  2. 15th May to 15th July
  • Postponement of prepaid tax for businesses (limited liability companies)
  1. From 15th april to 1st september 2020

TAXES

  • Reduction of VAT from 12 % to 7% - from 1st April to 31st October

Reduction of employers national insurace contribution (NIC) for one (1) term (two months) – May / June.