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Wednesday, November 29, 2023
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Parliament voted to extend the tax relief period

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& Epsilon; & pi; έ & kappa; & tau; & alpha; & sigma; & eta; & pi; & epsilon & i; r & όta delta; & omicron; & upsilon; & phi; & omicron; & rho; & omicron; & lambda; & omicron; & gamma; & iota; & kappa; ώ & nu; & epsilon; & lambda; & alpha; & phi; & rho; ύ & nu; & sigma; & ega ; & iota; & sigma; & epsilon; & eta; & Beta; & omicron; & upsilon; & lambda; or business relief. </p> <p>By amending the Law on Value Added Tax, the period of facilitation of companies that faced objective difficulties for the timely submission of their tax returns and the payment of the due VAT due to the conditions created by the pandemic is extended. </p> <p>Specifically, the imposition of additional VAT and interest is suspended for certain categories of economic activity subject to taxable persons, for the tax periods that have expired on 31 March 2021, 30 April 2021 and 31 May 2021, provided that the taxable person has tax return for these periods within the set deadline and pay the amount of VAT due by October 10, 2021, November 10, 2021 and December 10, 2021 respectively. , as well as criminal measures for the tax period beginning on 1 October and ending on 31 December 2021, subject to the payment of VAT for that tax period in three equal installments, on 10 February 2022, 10 March 2022 and 10 April 2022 , for companies falling into the categories of economic activity “restaurants and tab ernes “,” provision of food services at various events “,” cafes “,” bars and pubs “,” nightclubs and discos “and” cafes “. </p> <p> At the same time, an amendment to the Income Tax Law was passed , in order to extend the provisions which provide for deductible costs for investment in an innovative small and medium enterprise until June 30, 2024. </p> <p><noindex></p> <div class=Source: politis.com.cy

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