As of March 24, 2020
In relation to measures taken by the Slovak Government in relation to the COVID-19, the Slovak Financial Administration stated that it would not impose penalties in case of non-compliance with the statutory deadlines for filing of individual and corporate income tax returns, if the taxpayer fulfills this obligation by 30 June 2020. The Slovak Government is also considering an extension until September 30, 2020. In case the deadline is extended, we will notify you immediately.
At the same time, the Slovak Financial Administration published the document outlining the most frequently asked questions and answers on this topic.
Related Regulation of the Government of the Slovak Republic was published in the Collection of Deeds under No. 48/2020 Coll. Pursuant to this Regulation, all legal entities and individuals shall not be subject to penalties for failure to comply with the statutory deadlines for filing of their income tax returns, provided that the taxpayer pays the related tax liability and submits the tax return by 30 June 2020 at the latest. This applies to all taxpayers who have expired the deadline for filing a tax return on 31.03.2020, 30.04.2020 or 31.05.2020. However, the government regulation does not address possible related negative impacts, such as non-fulfillment of conditions for granting of the relevant percentage of tax liability to non-profit organizations (so-called „2%“); downgrading of the tax rating, etc., which may occur in the case of a late filing of the tax return without the previous filing of the announcement on deadline extension. The Regulation also does not apply to the delayed presentation of financial statements.
Since this is only a government regulation that covers just the non-application of sanctions, please note that it does not automatically change the statutory deadlines for filing of income tax returns and related activities (e.g. payment of tax liability). Therefore, we encourage our clients to continue to comply with the deadlines outlined by the law. If you intend to extend the deadline for filing the tax return, including the presentation of financial statements, we recommend doing so using the appropriate form available on the web page of the Financial Administration: “Notification of the taxpayer on Extension of the Filing Period”.
The previous government has published the draft of government measures to assist the economy in relation to the spread of COVID-19. With the appointment of the new government, further measures can be expected to assist the economy in the context of the spread of COVID-19. We will keep you updated.
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In this respect, we have also established a special email address for you to send your questions to. Our experts are at your disposal: [email protected]
If you have any questions regarding the government measures, as well as about the impact of the current COVID-19 situation on your business and your tax, audit, corporate finance, accounting and payroll obligations, please do not hesitate to contact us, we will be happy to assist you.