COVID-19 Tax Deferral – Update

On 8 June 2020 the Minister for Finance announced that the measure permitting the deferral of the payment of taxes (see MIT News 20 March 2020) will be extended, with regard to some of the eligible taxes, until the end of August.

Provisional Tax, VAT and National Insurance Contribution on salaries: the original period has already been extended up to the end of June (see MIT News 30 April 2020).

National Insurance, income tax and maternity contributions:  as of 1 July 2020 there will be no deferral of payment of employee social security contributions withheld from wages, maternity contributions and employee taxes withheld under the FSS.

Other taxes due by companies: the deferral applies up to the end of August. Companies have up to May 2021 to settle the deferred taxes, with no interest charged.