A 25% VAT discount for the month of April

The new Act of Legislative Content for the implementation of the 25% discount on VAT in April was published in the Government Gazette. Borrowing benefit with other debts by 25% in case of full repayment of VAT debts. Specifically at the end of par. 1 of article 1 of 11.3.2020 Legislative Content Act (A '55), as it was ratified by article 2 of law 4682 / 2020 (A '76), paragraphs are added as follows:

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"In the operations of the previous paragraph, as determined by the decisions of par. 2, if they pay in full by April 30, 2020 the total amount of the debt corresponding to the return of the Value Added Tax (VAT) resulting from the returns of the first quarter of 2020 for those obliged to have single-entry accounting books and of the third month of 2020 for those obliged to have double-entry accounting books, the benefit of offsetting the amount equal to twenty-five percent (25%) of the debt paid is provided, with other debts or installments of regulations or facilities of partial payment to the Tax Administration, which have a maturity of payment after 1st of May 2020. For those obliged to have double-entry accounting books, a condition for the implementation of the previous paragraph is the payment of VAT of the period February 2020, with the exception of the liable companies which were suspended on March 26, 2020. If an amending statement is submitted for the above periods, which reduces the initial debit amount of the declaration, the amount of the offset shall be reduced accordingly. "

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Analog Group

Tax Department