On 27 March 2020, the President announced a series of measures due to coronavirus outbreak. The key measures are given below:
- Payment of corporate income tax for fiscal year 2019 for the months of April, May, and June 2020 can be deferred and paid in six installments for the tourism, agricultural industries and small business.
- A 12-months deferment with no surcharges applicable for farmers, small merchants, and artisans who can’t pay their water and electricity bills between April and June.
- Under the new measures, social security payments will be postponed for 90 days while taxes will be deferred for the tourism and export sectors for the months of April, May, and June, as well as for small businesses.
- The VAT payment is due by April, the Government announced an extension of payment of VAT for fiscal year 2019 for the months of April, May, and June 2020 can be deferred and paid in six installments by certain taxpayers.
