{{vm.title}}
25{{vm.includesText}}
{{item}}
{{vm.selectText}}
{{ vm.welcomeLabel.trim() }},
{{ vm.userName }}
{{ vm.text }}
{{vm.newUser1}} {{vm.newUser2}} {{vm.newUser3}} {{vm.newUser4}}
{{ vm.unknownUser }}
{{ vm.title }}
{{ vm.title }}
{{ vm.title }}
- {{ vm.siteSelectorList.flyout.cell1.heading }} {{ site.countryLocale }} {{ vm.siteSelectorList.flyout.cell1.global.countryLocale }}
{{ vm.closeTabLabel }}
- {{ vm.flyout.cell2.title }} {{ vm.flyout.cell2.newTabAllow }} {{ vm.flyout.cell2.title }}
- {{ vm.flyout.cell3.title }} {{ vm.flyout.cell3.newTabAllow }} {{ vm.flyout.cell3.title }}
- {{ vm.flyout.cell1.viewAll.label }} {{ vm.flyout.cell1.viewAll.newTabAllow }} {{ vm.flyout.cell1.viewAll.label }}
On 8 July 2020, the Tax Authority (TA) announced certain tax relief measures for taxpayers adversely impacted by the Covid–19 pandemic (click here for the related tax alert).
The timelines for some of these measures have been extended. Please find a summary below:
Period |
Nature of relief |
New timeline |
Old timeline |
For year ended on 31 December 2019 |
|
Till 31 December 2020 |
Till 30 September 2020 |
For year ended after 31 December 2019 |
Extension of the due date for payment of taxes and suspension of additional tax (@1% per month)* |
Till 12 months from the end of the accounting year |
Till 9 months from the end of the accounting year |
For year ended prior to 31 December 2019 |
Suspension of additional tax (@1% per month) |
For the period 1 January 2020 to 31 December 2020 |
For the period 1 January 2020 to 30 September 2020 |
*For clarity, please note that no extension/suspension was granted by the TA on 8 July 2020 for fines that could arise due to delay in filing returns, for period ended after 31 December 2019 (unlike for year ended 31 December 2019).
The extension of the relief measures will be welcomed by taxpayers who have been financially impacted by the Covid-19 pandemic.