Another tax liberation package waives default interest on selected taxes and some administrative fees
The Ministry of Finance is waiving default interest on VAT and road tax for entities in selected sectors of industry, and default interest and interest on deferred tax amount where the deferment of tax payment or payment of tax in instalments was granted for reasons related to the spread of the SARS-CoV-2 virus. For all entrepreneurs, selected administrative fees have also been waived. The tax liberation package comes in the form of a decision of the Minister of Finance.
- default interest on VAT for the taxable period of September, October, November and December 2020, and January, February and March 2021, or for the taxable period of the third and fourth quarter of 2020 and the first quarter 2021;
- default interest on road tax for the 2020 taxable period
provided that the tax to which the default interest relates is paid no later than on 16 August 2021. At the same time, the road tax prepayment payable on 15 April 2021 has been waived (although its waiver does not mean the tax itself is waived). The waiver is conditional upon the taxpayer notifying the appropriate tax authority of the fact that the prevailing portion of their revenues in the relevant period was generated from the defined activities. As regards VAT, this liberation package only waives default interest, not penalties for late tax assertions, meaning that VAT returns and VAT ledger statements still have to be filed within the statutory deadlines.