Decision # 1/309

 Granted reductions on the tax penalties forany tax infringement incurred from the 1st August 2019 till the date of this decision (i.e. 6th May 2021 inclusive) based on the Laws # 199/2020 and 212/2021. According to this MoF decision, the Minister of Finance is granting the taxpayers subject to tax adjustments tax penalties rebates covering all the tax infringements related to income tax, VAT, built property […]

Decision # 1/47

The Ministry of Finance (MoF) issued on the 8th February 2021 the Decision #47/1 (attached scanned copy) determining the application of the tax exemptions mentioned in the article 4 of the Law #185 dated 19th August 2020 and in the article 6 of the Law #194 dated 27th August 2020. These exemptions cover income tax, inheritance tax and built property taxes […]

Decisions # 1/30

Please be informed that the Ministry of Finance (MoF) decision #30/1 dated 25th January 2021 (attached a scanned copy) has extended the deadline to present the annual tax declarations of the nonprofit associations (on cash basis) and the lump sum taxpayers as well as the Ultimate Beneficiary Owner (UBO) of the fiscal year 2020 until the 1st March 2021.

Decisions # 1/14

Please be informed that the Ministry of Finance (MoF) decisions # 14/1 dated 12th January 2021 (attached scanned copy) has extended the deadlines to present the 4th quarter of 2020 Value Added Tax (VAT) declarations and the payment of the related taxes until the 15th February 2021 inclusive.

Decisions # 1/11

MoF decisions #11/1 dated 12 Jan. 2021- Extension of Q4-2020 Payroll Tax declarations until 15 Feb. 2021 (attached scanned copy) has extended the deadlines to present the 4th quarter of 2020  Payroll Tax (R10) (declaration and the payment of the related taxes until the 15th February 2021  inclusive.

Law # 199

the Law #199 dated 29th December 2020 published on the 31st December 2020 in the Official Gazette has further extended the suspension of the legal and tax obligations set by the Law #185 by 6 months till the 30th June 2021. This extension also covers the deadlines set in the Article 22 of the Budget Law 2020 that extended the deadlines […]

Decision # 1/893

The Ministry of Finance’s decision # 1/893 dated 31 December 2020 has finally acknowledged the difference of exchange resulting from the purchase of goods or assets in foreign currencies at the parallel market rate. According to this MOF decision, this difference of exchange should be added to the cost of the goods in the Profit & Loss statement or […]