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In the Middle East a number of countries have announced financial and fiscal measures (budget spend reductions announced in Bahrain and KSA and fiscal stimulus policies in UAE and Qatar). In addition, please see below some tax measures introduced:
Press release ANAF – March 16, 2020
In this period, given the difficult economic context caused by the spread of COVID-19, the National Agency for Fiscal Administration (ANAF) prepared a set of measures for the support of the business environment, the most important being the following:
Special rules concerning coronavirus
Commonly occurring infections with the SARS-CoV-2 virus (“2019 novel coronavirus’) and related regulatory measures such as domestic quarantine and the closure of educational institutions, cancellation of events and generally the restriction of daily life can lead to this, that – starting in mid-March 2020 – there will be liquidity bottlenecks and delays in payment may occur.
Sonderregelungen betreffend Coronavirus
Gehäuft auftretende Infektionen mit dem SARS-CoV-2-Virus („2019 neuartiges Coronavirus“) sowie damit einhergehende angeordnete behördliche Maßnahmen wie häusliche Quarantäne sowie die Schließung von Bildungseinrichtungen, Absage von Veranstaltungen und generell die Einschränkung des täglichen Lebens können dazu führen, dass es – beginnend mit Mitte März 2020 – zu Liquiditätsengpässen und Zahlungsverzögerungen kommen kann.
Last week The Minister of Taxation made a proposal to prolong the deadline for reporting and payment of VAT for companies who report on a monthly basis. This assistance is being extended today to the companies who report on a quarterly and semi-annual basis.
On 15 March 2020, the Finnish Tax Authorities published actions to support companies with challenges they might face during the COVID-19 epidemia.
There have been no changes to filing or payment due dates, however the Finnish Tax Authorities have listed the following measures:
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According to article 1 of Legislative Decree No FEK Α’ 55/11-03-2020, for entities affected financially due to the spread of the coronavirus COVID-19, the VAT payment deadline may be extended and the collection of debts established through the filing of (debit) VAT returns may be suspended.
Following the State Security Council decision to severely limit free movement in the Czech Republic (from midnight March 16 to 6am March 24), the ministry of finance has published liberation tax package in connection with the state of emergency in the Czech Republic. In the VAT area, the following measures will apply:
The government published plans to postpone the due date for tax payments upon application of the taxpayer, free of charge.
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PwC Switzerland ITX
Michaela Merz 