Deferment of taxes – Update
The Office of the CfR has updated the guidelines concerning the deferral of certain taxes, one of the measures announced in March 2020 to assist businesses that suffered a significant downturn in their turnover as a result of the economic constraints arising from the coronavirus pandemic.
The guidelines clarify that the measure applies to eligible taxes which fell due in March up to and including June 2020.
The eligible taxes are:
- Provisional tax, social security contributions of self-employed persons and Value Added Tax which fall due in March up to and including August 2020;
- Employee taxes, maternity fund payments and social security contributions which fall due in March up to and including June 2020.
The taxes due are to be settled by 31 May 2021.