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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

  • Suspension of additional tax (@1% per month) due to delay in payment of taxes
  • Suspension of fine due to delay in filing the provisional and/or final return of income

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.