The government is supporting the business environment affected by the Covid – 19 crisis, approving the tax amnesty for interest, penalties and other accessories owed by taxpayers.

The measure aims to collect latest on 15th of December 2020 the outstanding budget obligations as at March31st, 2020, as well as budget obligations due between April, 1st 2020 and December15th ,2020.

The tax incentives target all taxpayers who have outstanding debts as of March 31st, 2020.

Fiscal facilities regulated by the Emergency Ordinance:

• Cancellation of interest, penalties and outstanding accessories on March 31st, 2020 inclusive, in the case of taxpayers with existing outstanding tax liabilities or tax liabilities declared additionally by the debtor by amending tax returns, due before March 31st, 2020 inclusive;

 

• Cancellation of interest, penalties and all accessories related to the main budgetary obligations due prior to March 31st, 2020, including the case when the taxpayer has only accessories tax liabilities.

In order to benefit from this measure, taxpayers must pay the outstanding tax liabilities, submit all tax returns and the application for cancellation of accessories latest on December 15th, 2020.

• Cancellation of interest, penalties and all accessories related to the main tax obligations due prior to March 31st, 2020 inclusive, established by a tax decision issued as a result of the tax inspection or verification of the personal tax situation, which is ongoing at the date of entry into force of the emergency ordinance.

In order to benefit from this measure, taxpayers must pay these obligations in the term set in the tax decision and submit the request for cancellation of the accessories within 90 days from the date of communication of the decision.