Deferment of premium payment
The government is again postponing the payment of social insurance premiums. It approved the postponement of the payment of insurance premiums for compulsory sickness insurance and compulsory pension insurance for self-employed persons (SZČO) and insurance premiums paid by the employer for the period from February 2021 to 30 June this year. This follows from the material from the workshop of the Ministry of Labor, Social Affairs and Family (MLSAE) of the Slovak Republic.
“This exemption will apply to employers and SZČO who show a decrease in net turnover or a decrease in income from business and other self-employed activity by 40% or more,” pointed out the resort in the material.
The deferral of the payment of insurance premiums also applies to the payment of compulsory contributions to old-age pension savings (Pillar II) and to supplementary pension savings (Pillar III), which the employer is obliged to pay for an employee performing risky work.
Interest on late payments
The government refrained from charging interest on arrears and from imposing a fine for failure to file a tax return, a statement of withheld and paid advances for income tax from dependent activity or a report on tax billing and total income from dependent activity. This follows from material from the workshop of the Ministry of Finance (MF) of the Slovak Republic, which was approved by the government cabinet on Wednesday.
The aim of the government regulation is to mitigate the economic impact of the remaining problems in connection with the spread of COVID-19 to tax subjects.
‘From the levying of interest for late payment or breach of the tax or difference within the prescribed period or amount, the tax advance, the tax payment or the levy collected, which became due between 12 March 2020 and 31 December 2020, shall be waived if the taxable person fulfills this obligation by 30 June 2021 at the latest or if he is allowed to defer payment of the tax or payment of the tax in installments by that date, “ wrote the ministry in the material stating that this does not apply to local taxes and local fees for municipal waste and small construction waste.
If the taxable person is allowed to defer payment of the tax or payment of the tax in installments by that date, the interest which should be charged to him before the date of their authorization shall also not be charged.
There will be no fines
There will also be no fines for not filing a tax return, under the same conditions – taxpayers must comply with this obligation by 30 June 2021. The same is not true for local taxes and waste fees.
The imposition of a fine for stating an income tax overpayment in a tax return filed from 1 January 2020 to 30 September 2020, which is higher than the tax overpayment that the taxable person should have stated in this return, will also be waived. If the applied tax overpayment has been refunded to the taxable person, the fine shall be waived if the taxable person returns the difference by which the applied overpayment was reduced.
The measures are aimed at mitigating the economic effects of the corona crisis on premium payers.
Source: Dnes24.sk by www.dnes24.sk.
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