CMS Expert Guide to the law and regulation of Covid-19 tax relief
- Deferral of payments of VAT.
- 2 months deferral of deadline for submission of Corporate tax return for 2 months (until 31 May 2020)
- simpler procedure when asking for deferral of tax obligations, if the taxpayer is impacted by Coronavirus regulations (e.g. mandatory closure, quarantine etc.)
- 24 months deferral of April, May and July social security contribution payments for self-employed persons,
- partial refund of salaries for employees, who cannot work due to Coronavirus restrictions (e.g. substantial lack of business, mandatory closure, medical quarantine etc.
- deferral of social security contributions payment in now also possible
- Deferral of payments of employer’s social security contributions and preliminary tax on salaries.
- 2 months deferral of deadline for submission of annual financial statements (until 31 May 2020)
- all tax inspections and reviews are temporarily halted
- judicial and administrative deadlines stop running until 30 July 2020
- 12 months loan repayment deferral for businesses subject to mandatory closure during quarantine period
- Tax payment refunds – new regulations take effect on April 7th 2020, but can be applied retroactively from January 1st 2020 – tax payments made from January to March can be reimbursed.
- Additional measures are planned to be introduced by 10 April 2020.