Act Determining Intervention Measures in Public Finance
On 28 March 2020 the Act Determining Intervention Measures in Public Finance was published in the Official Gazette of the Republic of Slovenia no. 36/2020. The act enters into force the day following its publication, i.e. on 29 March 2020. The act contains measures such as extending the deadlines for submission of tax returns and annual reports, extending deadlines for paying tax obligations arising from the submitted tax returns and the possibility of instalment payments of tax obligations. The proposed measures are intended to help ensure taxpayers to meet their tax obligations.
Deadlines for submission of tax returns:
1. Tax return for income from self-employment – the deadline is moved from 31 March to 31 May 2020.
2. Corporate income tax return – the deadline is moved from 31 March to 31 May 2020.
3. Submission of annual reports – the deadline is moved from 31 March to 31 May 2020.
4. Informative calculation of personal income tax for 2019 – the final deadline for compiling an informative calculation of personal income tax for 2019 is moved to no later than 30 June 2020. If taxpayers – residents are not served the informative calculation of personal income tax by 15 July 2020, they will have to submit their tax return by 31 August 2020.
5. The deadline for the notification of the tax base assessment taking into account normalized costs is moved to 31 May 2020.
Deferral of payment for tax obligations and instalment payments of tax obligations:
1. The tax authority can (based on the taxpayer’s application) authorize a deferral of the tax payment for up to two years or arrange instalment payments of the tax in no more than 24 monthly instalments, as the result from the loss of the ability to create income due to the epidemic of the coronavirus disease COVID-19 – the deferral of payment also applies to tax prepayments and withholding tax.
2. Deferral of payment and instalment payments shall apply to taxes such as VAT, PIT, CIT, Financial Services Tax, Insurance Premium Tax, Excise duties (excl. other duties such as social contributions, tourist tax, environmental taxes etc.).
3. For the period in which the taxpayer gets approval of deferred tax payment or is enabled to make instalment payments due to the consequences of COVID-19, the deferred amount of the tax or unpaid taxes (including late payment interest) does not incur interest.
4. Taxpayers can also use the option in accordance to which the time period to the right to recover the tax does not run if the tax authority does not begin or continue an already started tax execution. The period of deferral does not count in the limitation period, nor in the validity period of the seizure.