Information provided by the IBA Taxes Committee members.

Value Added Tax

  • The deadline for remittance of VAT for the March, April and May 2020 periods is being postponed by 30 days.

Corporate Income Tax

  • The next instalment payment of corporate income tax is due on 20 March 2020. This prepayment is based on expected profits earned in 2020. If a business is impacted by the spread of COVID-19, it is possible to reduce expected profits for 2020 and consequently reduce the preliminary payment of tax.

Social Security Contributions/Payroll Tax

  • Paye payments due in April, May and June 2020, the deadline for remitting the tax is being postponed by four months.

Other relief measures

  • Withholding taxes for employees are extended.

Additional comments

  • N/A