Suspension of payment of the VAT in the framework of the support programme to address the effects of the virus COVID-19
Under the Value Added Tax (Amending) Law of 2020 (L.24(I)/2020), the right of suspension of the obligation of payment of the VAT is conferred to the persons registered in the VAT Registry, whose specified taxation periods end on the 29th of February 2020, the 31st of March 2020 and the 30th of April 2020.
The right of suspension of payment of the VAT due is not applicable to the taxable persons who fall into the following codes of economic activities, as these appear on the Registration Certificate in the VAT Registry:
It is pointed out that, all taxable persons are still required to submit their tax return within the deadline, regardless of the economic activities code into which they fall.
It is noted that, taxable persons whose code of economic activities does not fall into the above categories, will be exempted from the imposition of additional tax and interest in accordance with article 45 (3) of the Law, provided they submit within the deadline their tax return and pay the tax due until the 10th of November 2020.
Relevant Press Releases
Registered unemployed: November 2023
Industrial Turnover Index: September 2023
Fiscal accounts of General Government: January-October 2023
Turnover Value Index of Services: 3rd Quarter 2023
Index of Industrial Output Prices: October 2023