Liberation Package III

The Ministry of Finance has submitted a draft for Liberation Package III at a meeting of the government. Liberation Package III postpones and extends some tax remissions, tax accessions, and administrative fees due to the crisis situation caused by the coronavirus.

The draft approved by the government postpones the deadline for submitting income tax returns until 18 August 2020. The postponed deadline does not apply to companies registered in the Specialised Tax Office.

Further, the Package postpones the remission of VAT on gratuitous supplies of protective equipment until 31 July 2020. Protective equipment includes face masks, respirators, disinfectants.

The obligation to submit real estate acquisition tax returns and pay the respective tax has been postponed until 31 December 2020 (originally, it was suggested that payment of the tax would be postponed until 31 August).

Moreover, interest on all taxes for the period from the beginning of the emergency regime until 31 December 2020 will be automatically waived in cases where the tax administrator allows deferral of the taxes with respect to the coronavirus.