Business entities that have applied for the postponement of the payment of taxes and contributions are enabled to settle these obligations in a maximum of 24 equal monthly installments, without interest, it is stated in the decree passed by the Government of Serbia. The first installment falls on February 10, 2021, and each subsequent one on the same date in the following months.
The Decree on the Procedure and Manner of Deferring the Payment of Due Taxes and Contributions in order to mitigate the economic consequences caused by COVID-19 disease more clearly defines the obligations of businessmen and extends the deadline for payment of obligations.
According to the new regulation, economic entities that have previously applied for tax benefits are obliged to pay a monthly installment of not less than 8 euros.
Business entities postpone the payment of taxes and contributions in monthly installments without conducting a special procedure.
Deferred payment can be realized for taxes and contributions on salaries and wage compensations, as well as for taxes and contributions on personal earnings of entrepreneurs and entrepreneurs of farmers, in the amount of unpaid obligation.
Additionally, the same benefit can be realized for advance payments of corporate income tax, up to the amount of unpaid tax liability calculated in the final tax return based on corporate income tax for 2020.
A similar benefit is available for advance payments of taxes on income from self-employment for entrepreneurs and entrepreneurs, farmers, regardless of whether they have decided to pay personal wages, up to the amount of unpaid tax liability calculated in the final tax return.
Lump-sum entrepreneurs who have decided to defer the maturity of liabilities based on advance payments of taxes and contributions to income from self-employment are also deferred payment of liabilities in 24 equal monthly installments without interest
For taxpayers with a business year other than the calendar year, who file the final tax return by January 31, 2021, and whose tax period ends in 2020, the first installment also falls due on February 10, 2021, but it cannot be less of 17 euros.
Business entities can pay their debts in full even before the expiration of 24 months.
Contributions whose deferral of payment has been deferred in accordance with this Regulation shall be deemed to have been paid for the purpose of exercising rights under pension and disability insurance, health insurance, exercising the right to unemployment and exercising the right to financial support for families with children purposes.
The right to deferment cannot be exercised by entities that do not submit the final corporate income tax return for 2020, ie for the tax period that begins or ends in 2020.
The right to defer payment of taxes and contributions is lost if the installment is not settled within the stipulated deadlines.
The unpaid amount of the obligation of the business entity is taken over by the legal successor, who is obliged to continue with the payment of monthly installments.
If there are several legal successors in the status change of a legal entity that ceases to exist, the company is obliged to pay the unpaid amount before deleting it from the register of business entities, which is kept by the Business Registers Agency.
The unpaid amount of the obligation of the legal entity according to which the bankruptcy procedure was initiated is reported and collected in accordance with the law governing bankruptcy.
In the case of compulsory liquidation of a legal entity, the unpaid amount of the obligation that was the subject of the postponement shall be considered due on the day of initiating the compulsory liquidation procedure in accordance with the law governing companies.
In case of liquidation of a legal entity, the unpaid amount of the obligation that was the subject of deferral of payment, that legal entity is obliged to pay until the end of the liquidation procedure, Nova Ekonomija reports.
