A Decree No. 251 of 24 March 2020 has published in the official gazette in response to COVID-19 pandemic. The Decree extended the income tax return submission deadline for the fiscal year 2019, until 30 May 2020.
The tax amnesty related relief allowing for a forgiveness of 85% of the interest, penalties, and surcharges and fines for delinquent taxes arising until 30 June 2019 as long as the amount of the entire tax liability is paid no later than 31 December 2020.
The transfer pricing reports, information returns of donations received, payroll reports and pension information returns submission deadline extended to 30 June 2020, originally due by 29 February 2020. The Decree also reduces the amount of estimated tax in general, to be based on 70% of the tax paid for 2019, with the estimates to be paid on 30 September 2020 and 31 December 2020.
