Suspension of  VAT payment and debts -extension of payment period

The Legislative Act was published including all the emergency measures taken by the government to confront the COVID-19 dissemination.

Specifically, the Legislative Act contains provisions regarding postponing the meetings of the ‘K.E.P.A.’ Health Committees until March 31, extension of validity of approval decisions on minimum guaranteed income and housing allowance, and temporarily suspending the operation of the courts.

Suspension of  VAT payment

Businesses affected by the occurrence and dissemination of the Coronavirus COVID-19 may extend the payment deadline of VAT for 4 months, in sectors and areas where the business is suspended by government order for more than 10 days.

Suspension of collection of debts and Extension of payment deadline

Businesses affected by the appearance and dissemination of the Coronavirus COVID-19 may extend the payment deadline and suspend the collection of debts to Tax Offices for 4 months, in sectors and areas where the business is suspended by government order for more than 10 days.

Suspension of Insurance contributions.

Businesses affected by the appearance and dissemination of the Coronavirus COVID-19 may extend the payment deadline of insurnace contributions for 4 months, in sectors and areas where the business is suspended by government order for more than 10 days.

During the period of extension of the deadline for payment, the amounts will not be incurred to any interest or surcharge.

Analog Group

Tax Department

© 2020 by Analog Group

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