Repayments under the COVID Tax Deferral Scheme – MFE Press Release
The Ministry for Finance and Employment has released a Press Release in relation to the repayment of taxes that were eligible under the Tax Deferral Scheme launched in March 2020 (See MIT News 20 March 2020).
It has been announced that beneficiaries under the scheme will be granted a period of 30 months, up until the end of December 2024, in order to repay the taxes deferred under the scheme. Monthly payments must be made, commencing as of June 2022. Whilst interest will be suspended during the repayment period, in the event that the dues are not settled by the December 2024 deadline, all benefits under the Deferral Scheme will be lost and interest will be levied as though the Scheme had not applied.
It has been announced that information sessions will be held during which the repayment process will be explained.
View the press release here.