Extensions on VAT and income tax payments
July 31 is the new deadline
The Ministry of Finance (MoF) extended the deadline for corporate income tax payment and the submission of the second quarter financial statements to July 31, 2014. It has also extended the deadline for VAT payments and periodic declarations to the same date.
“These are routine extensions helping the treasury secure their revenues and serving to remind companies in arrears that these taxes are due,” said a source at the MoF. Tax declarations are due on March 31 for partnerships and sole proprietorship. Joint stock companies, limited liability companies, holding companies, and offshore companies have until May 31 to file their income tax forms.
Audit reports are due on June 30 for partnership companies and on August 31 for joint stock companies, limited liability companies, holding companies and offshore companies. The VAT tax must be paid, in a single payment, within the deadline of the periodical tax return, 20 days from the end of each tax period.
Date Posted: Jul 15, 2014