Amendments to the law on taxes opened the possibility for a new round of support to companies, for help that businessmen claimed meant more than anything to them.
The draft of the new law envisages, namely, the option of additional deferral of tax debts and overdue tax liabilities. In translation, the possibility of a new moratorium, but not the obligation of the state to implement it.
Specifically, the law added a position stating that the postponement of the payment of tax debt or overdue tax liabilities is possible “exceptionally, in order to mitigate the economic consequences caused by a pandemic, force majeure or other extraordinary event in a manner and under conditions determined by the government.”
The Ministry of Finance explains that this is the legal basis that in the event of a new emergency situation, a new postponement can be approved, as was done at the end of March, and that this certainly does not mean that the postponement will certainly occur.
– The proposed provisions regulate in a special way the procedure for the urgent adoption of measures in the field of tax policy in order to mitigate the consequences that may occur for the economy and citizens due to extraordinary events. Accordingly, in case of need, the Government can adopt the stated measures which would systematically mitigate the consequences in relation to the entities that may be endangered due to extraordinary events – the Ministry of Finance states.
Tax relief in the package of economic measures
Let us remind you, the first package of economic measures in Serbia had, as one of the measures, tax relief for the economy.
For the most part, it referred mostly to the postponement of the payment of due tax obligations, with later repayment in installments, at the earliest from the beginning of 2021. It is a matter of postponing the payment of taxes and contributions for at least three months, postponing the payment of the advance income tax for the second quarter and exempting the payment of income tax for donations.
The total value of these measures was 1.3 billion euros.
– The postponement of the payment of taxes on salaries and contributions for the private sector, during the state of emergency, aims to increase the liquidity of all economic entities in the economic sector that pay salaries to employees. Also, this measure refers to the postponement of the payment of income tax from the independent activities of all entrepreneurs – they explained from the Ministry of Finance after the adoption of the first package of measures.
