It has been decided that business owners in Serbia can defer payment of taxes on minimum wage (received from the state to help mitigate the consequences of the pandemic) over the next two years.
The Serbian government has adopted a decree that stipulates that this tax can be paid over a maximum of 24 monthly instalments, with no interest charged. The first instalment is due on February 10.
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Businesses had hoped for this to happen since, during the disbursement of the state aid, they had been promised that they would pay off in instalments the accumulated obligations towards the state, which were otherwise too exorbitant.
Payment in up to 24 instalments refers to taxes and contributions on salaries, as well as personal earnings of small business owners and farmers. It also refers to the advance payment of corporate income tax, the due date of which is also deferred.
The decree also applies to advance payment of taxes for the self-employed, including self-employed farmers. Monthly instalments, as the case may be, cannot be less than 1,000 or 2,000 dinars.
The decree reminds that if someone fails to settle the monthly instalment, they lose the right to deferred payment.
(Srbija Danas, 29.12.2020)
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