The Pro-Business Actions Announced by the Government for the State of Emergency

The Pro-Business Actions Announced by the Government for the State of Emergency

According to the current emergency situation of the pandemic disease, the following measures have been approved and implemented by the government to support citizens and the economy of the country:

  • Deferment of the payment of the income tax from the entrepreneurial activity for the first quarter of 2020, until June 25, 2020;
  • Deferment of the declaration and payment of the income tax until April 25, 2020 for 2019 by: (1) individual entrepreneurs or rural households (farmers), non-VAT payers, with up to 3 employees and (2) the economic agents of the small and medium-sized enterprises sector in the ITOA (Income Tax from the Operational Activity) regime;
  • Reduction in the rate of VAT from 20% to 15% for the HORECA sector, starting with May 1, 2020;
  • Introduction of the moratorium on all state controls until June 1, 2020. ┬áIn case of the extension of the emergency, this term will be extended;
  • Extension by 30 days of the deadline for examining the infringement of the tax and custom legislation or for examining the tax and customs appeals that occurred during the declared state of emergency;
  • Suspension of the fiscal visits during the state of emergency declaration;
  • Cancellation of the obligatory audit of the individual financial statements for 2019, except the public interest entities;
  • Providing an opportunity for the commercial banks and the non-bank credit organizations to reschedule mortgage loans for individuals and legal entities;
  • Stimulation of the commercial banks to provide loans to the economy and citizens under more favorable conditions, including the revision of the basic rate reduction;

In addition, the Single Call Center of the State Tax Service (080001525) offers consultative support 24/24 for the citizens and the business environment issues.

Comments0

Comments not allowed

keyboard_arrow_up
clear