On 24 March 2020, the Government published a Decree, which replaces the previous Decree published on 14 March 2020. Under the new Decree, the following changes are included:
Corporate income tax
According to the Decree, a reduction of CIT advance payments 2020 to a lower amount or to Zero will be applicable in case of liquidity shortages directly caused by Covid-19. Also, an application to defer tax payments or to pay taxes in installments is possible up to 30 September 2020.
Individual income tax
Under the new Decree, taxpayers can apply to reduce quarterly prepayments for income tax to a lower amount or to Zero for liquidity shortages directly caused by Covid-19. Also, the social security contributions of February, March and April 2020 for companies that are affected by official closures, are to be deferred without interest on arrears.
