New information regarding tax deferral

The Government has now decided that already deferred tax payments can be deferred additional 1 year. (Before this new decision, companies could only defer tax payments by 1 year, now there is a possibility to prolong the period to up to 2 years in total.)

The Government has also decided that companies can defer tax for additional three accounting periods (meaning six accounting periods in total).

So according to new rules the possibility of deferral applies to taxes and social security charges that are reported for up to six accounting periods during January – December 2020.

For VAT that is reported quarterly during the specified period, the company may be granted two accounting periods.

Please note that it’s not totally free of charge to defer tax payments. Currently the interest is 1,25% and one time charge for defer is 0,2% of deferred amount.

You can read more about it here.