At its 5th Correspondence Session (17.3.2020), the Government adopted the Bill on Interventional Measures, which extends the deadlines for filing tax returns and submitting annual reports.

The text is the draft Act on Emergency Measures in the Public Financial Area. It will ease an administrative burden for entrepreneurs and businesses as they face the effects of the COVID-19 epidemic. Namely, they extended the deadlines for filing tax returns and annual reports.

This law establishes measures to help taxpayers meet their tax obligations due to the effects of the SARS-CoV-2 infectious disease epidemic. Measures to curb the epidemic of the virus as much as possible constitute a limitation on public life, which will inevitably have consequences for tax compliance. Therefore, the deadlines for submitting the tax return for the payment of personal income tax on corporate income tax and for calculating corporate income tax and for submitting annual reports to the AJPES and related services (for FY 2019) is postponed from 31 March to 31 May 2020.

The law delays the deadline for drawing up the 2019 PIT return, not later than June 30, 2020, and consequently delays resident taxpayers who will not be served the 2019 PIT return by July 15 2020, to 31 August 2020.

The second set of solutions provided by the government relates to the area of ​​the adopted state budget. In order to provide additional resources for emergency measures related to the epidemic, the government will be able to suspend the execution of individual budget expenditures that do not constitute statutory tasks until the adoption of this year's budget revision. In addition, a new deadline is set for the Government to submit to the National Assembly a revised state budget - it must do so no later than 90 days after the end of the emergency caused by the epidemic.

Adequate funding will need to be provided within a very short timeframe for the smooth implementation of epidemic-related measures. Since this could not be planned in the preparation of the state budget, the government is given greater powers for redistribution within the approved state budget for the duration of the epidemic.

Source: Ministry of Finance