Coronavirus Update nr. 18/2020 – New deadline extension for tax incentives

In the Official Gazette no. 551 from 25.06.2020 was published the Government Emergency Ordinance no. 99/2020 for changing certain tax relief measures, adopted for decreasing the negative economic effects of the Coronavirus pandemic and for supporting the businesses.

We present below the main provisions of this piece of legislation.

 

 

A new extension of the deadline until which interest and penalties are not due for late payments

It is extended until October 25^th, 2020, the deadline until which late payment interest and penalties are not computed for taxes due after March 21^st, 2020. The deadline was previously extended until June 25^th, 2020.

 

NOTE: Details about this measure were presented in our Coronavirus Update no. 3/2020 from March 22^nd, 2020.

 

 

Clarifications regarding the tax incentives for corporate income tax payments

Clarifications are provided regarding the rules for granting the 10% tax bonus. Thus, the bonus applies also to corporate income taxpayers who opted a different fiscal year or for those who pay both activity specific tax and corporate income tax at the same time.

NOTE: We informed you about this measure in our Coronavirus Update no. 13/2020 from May 21^st, 2020.

 

 

 

In order to have an efficient communication, we established a direct link with the related department. For the subject of the current Update, the requests for tax consultancy may be sent to [email protected] with a brief description of the query. One of our consultants will answer or contact you shortly.

 

Disclaimer

The information in this newsletter is intended to give you an overview of legislative news; the newsletter does not contain a complete analysis of each topic. For more information about the subjects presented, please contact us. We do not accept any responsibility for decisions or omissions followed by the use of the content of this newsletter. All Boscolo&Partners newsletters are available at the following address: http://www.crowe.ro.

 

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