The purpose of the table below is to summarise the tax measures implemented by countries to combat the economic effect of the Covid-19 outbreak.

Due to the fast pace in which changes are announced by various goverments, the following table should be used as guidance only. Please click on each country name to verify if the tax measures have been updated.

Taxes paid is an immediate cashflow burden and to minimise taxes paid free cash to assist enterprises to maintain operations.

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Country Tax measure

For taxpayers with turnover up to 14m ALL, or €110,000, instalments of the 2020 tax profit prepayments will not be made.

For taxpayers with turnover over 14m ALL or €110,000, profit tax instalments for periods of the second and third tax quarter, April June and July September 2020, will not be prepaid. Payments of these instalments are postponed to April September 2021. This exception does not apply to taxpayers who carry out economic activities in the field of banking, telecommunications, pharmaceutical products, food, fruit and vegetables products. 


Personal tax: Authorization for deferral of payment of payroll tax contributions (8%) due from companies for the 2nd quarter of 2020, allowing payment in six monthly instalments during the months of July to December 2020, without interest.

Following Presidential Decree No. 98/20, of 9 April, companies are granted a 12 month tax credit with reference to VAT due on the import of capital goods and raw materials used in the production of goods included in Presidential Decree No. 23/19, of 14 January 2020 (i.e., basic food items and other priority goods of national origin).

Additionally, through Presidential Decree no. 96/20, of 9 April 2020, the Government has also authorized an exemption from VAT and customs duties on the import of goods for humanitarian aid.


Extension of due date to 31 August 2020 for individuals to apply for an instalment plan (25% initial payment, plus three instalments) to cancel annual income tax and personal assets tax returns for tax year 2019.

Income tax exemption for compensation obtained between March and September 2020 by health care workers, armed forces, police forces, custom and migration employees, firemen and waste collectors in concept of overtime work, on call work and any other item originated in the COVID 19 emergency.

Exemption of import duties for medical supplies and vaccines

Reduction for five months , starting on 20 March 2020, of 95% of Social Security contributions for employers on health activities.

Extension of due date to 18 August 2020 for legal entities to file financial statements with tax authorities related to year ends between November 2019 to January 2020.

Extension of due dates to 3 to 7 August 2020 (depending on the tax ID of the taxpayer) for transfer pricing fillings (TP report and form 2668) for tax years ended December 2018 to November 2019. For tax years ended December 2019 to April 2020, the due dates will be 3 to 7 October 2020. Master file report for tax years ended December 2018 to August 2019 will due between 10 and 14 August 2020.


Delayed payroll taxes in some states, case-by-case deferrals for GST.

Faster refunds and credits for GST. Businesses can apply for GST deferred payments if they are facing cash-flow challenges. Also, businesses that receive credits or refunds under the GST can switch from quarterly to monthly filings to speed up their refunds.

Temporary immediate and accelerated expensing for business investment. Immediate expensing will now be available for assets costing less than $150,000 on a per-asset class basis. Eligibility is expanded to include businesses with annual revenues of less than $500 million (the current cap is $50 million). This measure applies until the end of June. Accelerated depreciation will be provided temporarily for businesses with less than $500 million in revenues. In addition to current depreciation deductions, the policy allows an additional 50 percent deduction but only applies to assets purchased after 12th March and put into service by30th June 2021.

Relief payments to unemployed and other eligible individuals and subsidized loans for some businesses

The federal relief package includes direct payments to citizens. For job seekers impacted by the downturn, there will be payments of $550 every two weeks in addition to current income support payments. There is also a broad-based, $750 one-time payment to eligible recipient. Individuals will also be able to temporarily access up to $10,000 from certain retirement accounts.

The Government is looking at pulling forward personal tax cuts legislated for future periods as part of the Federal Budget on 6 October 2020.

Temporary early release of superannuation amounts is permitted for individuals and sole traders directly impacted by COVID 19 enabling access up to A$10k of their superannuation, on a tax free basis in 2019/ 2020, and up to a further A$10k in 2020/ 2021 with no tax imposed on withdrawals.

Temporary reduction in superannuation minimum drawdown rates by 50% for the 2019/ 2020 and 2020/ 2021 income years permitting retirees to retain additional capital in superannuation funds which are subject to substantial tax concessions.

Cash flow support for employers: Tax free payments up to A$100,000 for employers with an aggregated annual turnover of less than A$50m.

Support for apprentices and trainees: Eligible small business employers with less than 20 employees can apply for a wage subsidy of 50% of the wages for such employees (in training as at 1 March 2020) for up to 9 months from 1 January to 30 September 2020, up to A$21,000 per apprentice. The wage subsidy was extended to 31 March 2021 and expanded to include medium sized businesses with fewer than 200 employees which have apprentices in place on 1 July 2020. A new A$1 billion Job Trainer fund will provide for around 340,700 additional training places to help school leavers and job seekers gain the skills needed to secure employment.

Remission of interest and penalties on tax liabilities incurred on or after 23 January 2020 and low interest payment plans for businesses with ongoing tax liabilities.

R&D AusIndustry lodgement due date extension to 30 September 2020 for companies with 30 June year ends. The R&D benefit is a tax offset worth 8.5c per $1 of R&D expenditure for companies with global revenue >A$20m or a cash refund of 43.5c per $1 for companies with global revenue < A $20m.

Businesses in the construction industry, interest free deferral from April to September 2020 (on application) for Payroll taxes.

Payroll tax cuts by increasing exemption threshold to A$1m in FY20/21.


Prepayment reduction on personal and corporation tax.

VAT payment and deferment available by application; payment deadline of 30th June extended.

For corporate tax payments, taxpayers can apply to have their advance payments reduced to zero or to receive a payment deferral or an instalment plan. Applications can be submitted until 31st October 2020.

Self employed persons can apply to reduce the social security contribution base, to defer payments and to pay in instalments. There is the possibility to apply to not levy late payment penalties and interest.

A hardship fund will be created to provide security in cases of hardship based on COVID 19 for one person companies, freelancers, non profit organizations and micro enterprises. The support program with up to EUR 2 billion will be handled by the Austrian Chamber of Commerce. Applications are possible until 31 December 2020.

Taxpayers can apply to defer tax payments or to pay taxes in instalments. This already applies for tax payments due on Monday 16 March 2020 (e.g. VAT January 2020, Wage Tax, Employer’s Contributions for February 2020). Independent of payment facilities, taxes still have to be calculated and notified. Requests for deferral or instalments of tax payments can be applied until 30 September 2020.

Taxpayers can apply to not levy interest on deferral of payments; such applications need to be filed together with applications to defer tax payments or to pay taxes in instalments.

The filing deadline for tax returns 2018 filed by an Austrian tax advisor has been extended until 31 August 2020.

Tax offices are instructed to not levy interest on late payment for tax payments if the failure to meet a payment deadline occurs until 1 September 2020

Writings and official acts in connection with COVID 19 are exempt from stamp duties from 1 March 2020 until 31 December 2020.

COVID 19 bonus payments of up to EUR3,000 are tax exempt. A bonus or allowance granted to employees for their work during the Corona crisis should be tax exempt up to an amount of EUR3,000. Those bonuses must qualify as additional payments that are made exclusively for this purpose and have not been granted previously.

Tax payments may be deferred until 30 September 2020; in cases of payment in instalments, taxes must be paid by 30 September 2020.

Taxpayers may apply for no interest to be applied on deferred payments; such applications need to be filed together with applications to defer tax payments or to pay taxes in instalments.

Belgium Corporate tax, Personal income tax, and VAT payment deadlines extended for two months.

There is also relief for late payments for tax liabilities prior to 12th March. For businesses that demonstrate that payment difficulties are linked to the coronavirus outbreak, the government is providing a VAT payment plan that gives relief from penalties. A similar payment plan is available for payroll tax liabilities.

In addition to this automatic deferral of payment, taxpayers can also apply for instalment payments of the debts relating to VAT.

No VAT on donations of medical equipment and protective gear under certain conditions.

Circular letter states that COVID 19 is an exceptional circumstance, justifying tax exemption for impairments of trade receivables for corporate income tax purposes.

Proposal for carryback of 2020 losses: Companies (and self employed individuals) could offset expected losses of this current taxable period on the taxes due on profits of the previous taxable period . This measure would also allow reclaims of tax prepayments already paid in 2020.

Reduction to 0% of the Import Duty due on import of products necessary to counter COVID 19 until September 2020. Products are listed on Annex I of CAMEX Resolution #17/20; #22/20, #28/20, #31/20, #32/20, #44/20 and #52/20.

Reduction to 0% of Excise Tax for local and imported products (Decree #10.285/20 and 10.302/20) necessary to counter COVID 19 until the end of September 2020.

Decree #10,318/20 VAT reduced to zero the rate of PIS and Cofins levied upon sales and importation of zinc sulphate (classified in the tariff codes 3003.90.99 bulk and 3004.90.99 retail). The measure will be valid up to 30 September 2020.

ME Ordinance 245/20 Postponed the contributions of PIS/PASEP/COFINS. The contributions due in May have been postponed to October 2020.

Joint Ordinance RFB/PGFN # 541/20: Extension, until 31 December 2020, of minimum instalment amount necessary for the request of instalment to PGFN or RFB.


Extended deadlines for business taxes from 31st March to 30th June. Personal income tax returns will get an extension from 30th April to 30th June.

The deadline for filing of FY19 Corporate Income Tax Return (CITR) and paying the tax, as well as the deadline for payment of the tax on expenses, are extended to 30 June 2020.


Payment deferrals for individuals and businesses; audits suspended for four weeks. Any income tax amounts owed on or after 18th March and before September can be deferred until after 31st August. In addition, post-assessment sales tax or income tax audits for small and medium businesses will be suspended for the next four weeks.

Three-month wage subsidy of 10 percent of remuneration to small businesses.

Individuals: Deferred payment of income tax The payment of any income tax amounts that become owing on or after 18 March 2020 and before 30 September 2020 may be deferred until 1 30 September 2020; however, for deceased individuals who died after October 2019 and before 1 June 2020 (or 15 June 2020 for deceased self employed individuals) payment may be deferred until the later of 1 September 2020 or 6 months after their death. This measure applies to income tax balances and instalments owing under Part I of the Income Tax Act (i.e., therefore, this deferral does not apply to remittances and tax payments owing under various other parts of the Income Tax Act , such as Part XIII withholding tax). The deferred payments will not be subject to interest or penalties during this period.

All trusts that have an upcoming income tax balance due date or an income tax instalment payment due date before 30 September 2020, will have their payment due date deferred until 30 September 2020 (this payment deferral also applies to the Part XIII remittance requirement associated with income paid or payable to non resident beneficiaries). The CRA has indicated that penalty and interest implications for upcoming trust tax obligations not covered by this relief will be considered on a case by case basis.

In the particular context of the COVID 19 crisis, the CRA is willing to accept that a total or partial reimbursement not exceeding $500 for the purchase of personal computer equipment to enable an employee to immediately and properly perform their work from home, is not a taxable benefit for the employee (provided supporting documentation is provided to obtain the reimbursement).

HCSA unused credits or unreimbursed eligible medical expenses HCSA unused credits or unreimbursed eligible medical expenses A health care spending account (HCSA) that qualifies as a private health services plan (PHSP) and which has unused credits or unreimbursed eligible medical expenses expiring between 15 March and 31 December 2020, could temporarily permit the carry forward of those unused credits or unreimbursed expenses for a reasonable period to allow members to access services that were otherwise restricted during the COVID 19 outbreak. A period of up to six months would generally be considered reasonable and would not, in and of itself, disqualify the HCSA from being a PHSP.`

Corporations: Deferred payment of income tax For corporations, the payment of any income tax amounts that become owing on or after 18 March 2020 and before September 2020 may be deferred until 1 September 2020. This measure applies to income tax balances and instalments owing under Part I of the Income Tax Act (i.e., therefore, this deferral does not apply to remittances and tax payments owing under various other parts of the Income Tax Act , such as Part XIII withholding tax). The deferred payments will not be subject to interest or penalties during this period.

Canada emergency wage subsidy (CEWS): Initial program (applicable to 4 July 2020) This measure is comprised of two parts: a 75% wage subsidy, and a 100% add on refund of certain payroll contributions. Eligible employers are entitled to the 75% wage subsidy when they suffer a drop in revenues of at least 15% in March 2020 or 30% in April, May, or June 2020, from arm’s length sourc es, when compared to either the same months in 2019, or the monthly average of the revenues earned in January and February 2020 [special rules are provided, for this revenue qualification test, for corporate groups, affiliated groups, joint ventures, and on arm’s length entities; cash method accounting may also be used]. Unlike for the 10% temporary wage subsidy, eligible employers generally include all types of employers aside from public sector employers. The subsidy generally applies at a rate of 75% on the firs t $ 58,700 of eligible remuneration paid to an eligible employee (i.e., generally an individual employed in Canada) during one of the first four qualifying periods (with Period one commencing on 15 March 2020 and Period four ending on 4 July 2020), providing a maximum benefit of $847 per week per employee. The eligible remuneration includes salary , wages, and other remuneration (such as commissions), but not severance pay or items such as stock option benefits. In addition, eligible employers are also entitled to a 100% refund of the employer paid EI, CPP, QPP and QPIP contributions that are made for eligible employees for each week throughout which those employees are on leave with pay (for the full week, without per forming any work) and for which the employer is eligible to claim the 75% wage subsidy. No CEWS is available for remuneration paid to an employee who has been without remuneration for 14 or more consecutive days in a particular qualifying period. As announced on 17 July 2020, this measure is extended until 19 December 2020, with significant changes to the design of the program. The application deadline is also extended from 30 September 2020 to 31 January 2021.

CEWS: Redesigned program (applicable as of 5 July 2020) As indicated above, the CEWS has in effect been extended to 19 December 2020. Details of the redesigned program have been announced for qualifying periods five to nine (with Period five commencing on 5 July 2020 and Period nine ending on 21 November 2020); the program can then be further extended by regulation to no later than 31 December 2020 (a standard four week “Period 10” would thus end 19 December 2020). The main change to the redesigned program is t hat the bright line test requiring a 30% decline in revenue, which applied to Periods two to four, does not apply for Periods five to nine; instead, a sliding scale is used and all eligible employers experiencing any decline in revenue will qualify for some level of CEWS support (depending on the scale of revenue decline). Key elements of the redesigned program include: a new two tiered subsidy structure in respect of active employees that is composed of a base subsidy of up to 60% on eligible remuneration of up to $1,129 per employee per week (calculated on a sliding scale that gives more support to those employers with higher rates of revenue decline) and a top up subsidy of up to 25% for employers that experienced an average drop in revenue of more than 50% in the preceding three calendar months; a separate subsidy rate structure for furloughed employees (for Periods five and six, the subsidy calculation would be the same as the subsidy calculation that applied for Periods one to four, and beginning in Period seven, the subsidy calculation will be modified to align with benefits provided under the CERB or Employment Insurance); and a safe harbour rule for Periods five and six will apply to ensure that an eligible employer with a revenue decline of 30% or more will receive no less CEWS support for Periods five and six under the redesigned CEWS program than they would have under the initial design that applied for Periods one to four. The requirement that an employee not be without remuneration for 14 or more consecutive days in a particular qualifying period to qualify as an eligible employee has also been removed.


Tax payment deferral for small businesses with annual sales of less than $12 million.

Deferral of VAT payments for the next three months (benefit available for small sales volume companies) Deferred VAT can be paid in 12 interest free instalments.

Exceptional one time credit (only available for small size companies that comply with good practices requirements).

Real estate taxes due in April may be deferred until 31 December 2020. Applicable to small/medium size companies and individuals that own real state valued lower than US$170,000.

Exemption of Stamp tax (applicable to credit cash operations) for operations carried out between April and September 2020.

Extended super accelerated depreciation regime available until 2022 allowing to depreciate within the same year of acquisition 100% of the value of acquired assets.

23% of new hires remuneration to be deducted as corporate tax credit.

Elimination of stamp tax for credit loans granted within the upcoming six months.

Eliminate for year 2021 the 1% regional contribution tax.

China VAT reduced from 3 percent to 1 percent for small businesses until the end of May; VAT cut on supplies related to the outbreak.

VAT cut on medical, catering, accommodation, hairdressing, and laundry services as well as on masks and protective clothing.

Enterprises engaged in key industries in the Shanghai Lin gang Special Area (e.g., integrated circuit, artificial intelligence, biological medicine, civil aviation) will be entitled to a reduced CIT rate of 15%.

Exempt VAT on revenue in providing prescribed services (i.e., transportation of key supplies under the epidemic, public transportation services, lifestyle services) from 1 January 2020 to 31 December 2020.

Exempt VAT for small scale VAT taxpayers in Hubei and reduce VAT collection rate for those in other regions to 1% (1 March 2020 to 31 December 2020).

Exempt VAT for financial institutions' interest income from the loans to small and micro sized enterprises (by the end of 2023).

Exempt VAT and Consumption Tax on cross border e commerce pilot zones (“ECPZs”) in 46 newly established ECPZs, total 105 zones.

Exempt VAT for income derived from film screening services (1 January 2020 to 31 December 2020)
Key medical and epidemic prevention related supplies (Key Supply Enterprises, “KSEs”) under designated lists (vary locally) may apply a full refund of the incremental input VAT credits incurred after the end of December 2019 on a monthly basis (to be provided by the government by the end of 2020).

Waiver of late tax payment interest on domestic sales from bonded materials.

Individual Income Tax (IIT) exemption on additional allowance and bonus for medical staff and qualifying personnel who has been involved in COVID 19 prevention, treatment and or handling related emergencies (to be provided by the government by the end of 2020).

Individual Income Tax exemption on medicines, medical supplies and protective equipment provided from enterprises to employees (to be provided by the government by the end of 2020).

Deferral IIT payments: allowing self employed industrial and commercial households (SICHs) to defer the payments of IIT until the first tax filing period of 2021.

Asset write off/tax depreciation: Equipment purchased by KSEs under a designated list for expanding production capacity is allowed to be one off deducted in the same period for CIT purposes (to be provided by the government by the end of 2020).

Interest income derived by financial institutions for extending small loans to farmers is entitled to 10% deduction (CIT rate is at 25%).

Premium income derived from insurance services provided to businesses engaging in planting as well as breeding and poultry raising is subject to CIT at a 10% reduction (by the end of 2023).

Qualifying donations are allowed to be deducted in full for CIT purposes (to be provided by the government by the end of 2020.

The government has extended the carry forward period for losses incurred in 2020 from five to eight years for qualifying enterprises.

Small sized enterprises with meagre profits will be allowed to defer their CIT payments to the first tax filing period of 2021.

Social security contributions by employers (including the pension, unemployment insurance and work related injury insurance) (refer to medium, small and micro sized enterprises) can be exempted ( to be provided by the government by the end of 2020)
Enterprises with severe difficulties in business due to COVID 19 epidemic may defer the social securities contribution to the end of December 2020 without penalties.

50% deduction of Urban Land Use Tax (ULUT) rates on the land used by logistics companies for bulk commodity storage (1 January y t o 31 December 2022). Landlords who offer rent relief to small businesses may be entitled to Real Estate Tax (RET) and ULUT reduction/exemption.

China extends the validity of 15% CIT rate for qualified enterprises engaged in encouraged industries in the Western Regions to the end of 2030. The criteria has also been lowered.

Extended due date for the payment of income tax by companies engaged in hotel services, passenger air travel, theatrical activities and live show business activities.

VAT holiday for the rent of commercial premises (which is different than offices and warehouses)
The following business activities will be not subject to VAT: 1) The acquisition of certain chemical supplies to produce medicines (e.g., vitamins and antibiotics) (during the sanitary emergency, currently until 31 August 2020). 2) The provision of food and beverages in restaurants, coffee shops, cafeterias, ice cream parlours and bakeries, developed under a franchise agreement (until 31 December 2020). 3) Hoteling and tourism services (until 31 December 2020).

A 0% VAT rate will apply to imports of public and private transportation motor vehicles and cargo transportation vehicles until 31 December 2021. This treatment also will apply to the importation of a chassis with an engine, as well as car body parts to build a new motor vehicle for public and private passenger transportation and cargo transportation.
The importer will have to meet certain requirements to apply the 0% rate.

By means of Legislative Decree 682,2020 the consumption tax applicable to tax payers engaged in the provision of alcoholic beverage in situ cafeterias and restaurants is reduced to 0% (usually 8%) up to 31 December 2020.

From 1 July 1 to 30 June 2021, a reduced 4% withholding tax will apply to domestic payments of fees and commissions to taxpayers engaged in certain cultural and entertainment activities (usually, this withholding tax may be up to 11%).
Additionally, from 4 June 2020 to 30 June 2021, the economic stimulus/allowances granted by the Ministry of Culture, the cinematic development fund and local culture authorities will be not subject to withholding tax.

Entities that enter into a reorganization or execute a reorganization plan (similar to a Chapter 11 process) will not be subject to income tax withholding or self withholding through 31 December 2020.

Croatia Extension of due date for payment of the 2019 corporate tax liability.

Companies that are affected by the extraordinary circumstances and have a decrease in monthly revenue of more than 20% year on year may request an interest free deferral for payment of taxes (VAT excluded) and social contributions for a period of three months. After expiry of the three month period, taxpayers will be able to request repayment of taxes and social contributions in up to 24 instalments.
Czech Republic

Tax deferrals on a case-by-case basis.

Waiving penalties and default interest for income tax payments. Late filing waivers for all taxes will be case-by-case. There is also a general waiver of penalties with respect to VAT statements.

Introduction of tax loss carryback for 2020 tax losses to be potentially applied in 2019 and 2018 tax returns.

Waiver of the obligation to pay social security and health insurance payments for all self employed individuals for the period March to August 2020 in the extent of the minimum amount of these payments.

Automatic removal of the penalty for late filing of real estate acquisition tax return and related late payment sanctions if the tax return is filed before 31 August 2020.


Applications will also be considered for businesses that wish to cancel income tax prepayments, defer tax payments (for VAT or income tax), or extend their filing deadline for corporate income tax returns.

Large companies will have 30 additional days to pay VAT, while all companies will be granted four additional months to pay their labour contributions.

The government is also lifting the ceiling on businesses’ tax accounts so that corporations won’t have to pay negative interest rates when placing cash in the bank. That limit is rising from the current level of DKK 200,000 to DKK 10 million until the end of November 2020.

Workers sent home can receive a 90 percent wage subsidy for three months; expansion of sick leave coverage.

The tax filing deadlines for all tax payers for the income year 2019 have been extended to 1 September 2020.

For companies with VAT liable between DKK 5 to 50m on an annual basis, the payment of VAT is postponed for the first quarter of 2020 and is now payable together with the payment deadline of the second quarter of 2020, on 1 September 2020.

For companies with VAT liable below DKK 5m on an annual basis, the VAT payment of the first half of 2020 has been postponed and is now payable together with the payment deadline of the second half of 2020, on 1 March 2021.

For businesses reporting SPT according to method 4, the deadline for SPT reporting and payment for the 2nd quarter is postponed from 15 July to 1 September 2020, whereas the deadline for SPT reporting and payment for the 3rd quarter is postponed from 15 October to 16 November 2020.

Payroll tax and labour market contribution payments for companies with payroll tax of more than DKK 1m or a total labour market contribution of more than DKK 250k, both of which must continue over a 12 month period, are as follows: i) The payment that should have been made on April 30th are postponed until August 31st, ii) May 29th are postponed until September 30th, and iii) June 30th are postponed until October 30th.

For the companies below the thresholds the payments are as follows: i) The payment that should have been made on 11 May are postponed until 10 September ii) 10 June are postponed until 12 October, and iii) 10 July are postponed until 10 November 2020.

As regards B tax (self employed) the payment deadlines have been extended for the two upcoming rates (20 April and 20 May payments). Payments to be executed on 20 June and 20 December 2020.

The tax filing deadlines for all taxpayers for the income year 2019 have been extended to 1 September 2020.

Payments of payroll tax (A tax) and labour market contributions (AMB) for all companies for August, September and October 2020 have been postponed by 4½, 5½ and 6½ months respectively.


VAT payment holiday until 1st May.

Interest penalties on late tax payments delayed for two months.

An employee can discontinue their II pillar payments in the period from 1 December 2020 to 31 August 2021 by submitting an application in October 2020.

The value added tax rate on electronic publications (e.g., e books) will be reduced to 9% from 1 May 2020, so that the tax rate will equal that of print publications.

The government will lower the excise duty rates on several types of fuels and electric power for two years, from 1 May 2020 until 30 April 2022.

Finland In the case of late filing or late payment, tax payers can request that the penalty be removed, if they have a justified reason for the late payment/filing, such as illness or quarantine.

Tax payers can request for a payment arrangement with eased terms for the company's taxes between 25 March and 31 August 2020.

VAT already paid in the beginning of the year 2020 may be reclaimed as a loan with 2.5% interest , which will be calculated from the initial due date of the taxes. Tax refunds will not be used against taxes within the eased payment arrangement scheme.

The interest rate for late payment of CIT further reduced to 2.5% (currently 7%) for taxes due from 1 March 2020.
France Suspension of payments for some taxes; direct tax payments delayed for three months.

Wage subsidy for affected workers and a €1 billion solidarity fund for affected businesses.

Suspension of water, gas, electricity, and rent bills and tax and social- contribution payments for small businesses.

Companies encountering difficulties in gathering all the documents useful for establishing their CA3 VAT return, can make a simple estimate of the amount of VAT due (margin of error tolerated of 20%).

Solidarity fund created by the State and regions for entrepreneurs, merchants, artisans and financial support of EUR 1,500 for the smallest businesses, the self employed and microenterprises in the sectors most affected. Municipalities and large companies will be able to contribute to the financing of the fund. The solidarity fund was funded for March and may be renewed if necessary, in view of the development of lockdown measures and their impact on economic activity. For the most difficult situations, additional support of EUR 2,000 may be granted on electronic request to the Conseil Regional to avoid bankruptcy on a case by case basis. The amount granted will depend on the loss of turnover incurred. This fund is aimed at companies with a workforce less than or equal to 10 employees, turnover of less than €1,000,000 and a taxable profit of less than €60,000.
Germany Case-by-case tax deferral options for businesses that apply by the end of 2020; advance tax payments delayed.

Tax base reduction for trade taxes.

Wage subsidies for affected workers as well as €50 billion in support for businesses and €500 billion in liquidity measures for businesses.

Deferral of corporate tax payments: Taxpayers which can demonstrate that they are directly and not insignificantly affected may, until 31 December 2020, submit applications for the deferral of taxes which are already due or are becoming due until that date. Requests for deferral of taxes which become due after 31 December 2020 must be specifically justified. Interest on deferred taxes shall generally be waived. Monthly and quarterly declarations for wages taxes (including tax payments) can be deferred for up to two months if the COVID 19 virus impedes bookkeepers to submit timely declarations.

Reduction of corporate tax prepayments: Taxpayers may, until 31 December 2020, submit applications for the adjustment of tax prepayments. Requests for adjustment of tax prepayments which only concern periods after 31 December 2020 must be specifically justified. As soon as it becomes clear that a taxpayer’s income in the current year is expected to be lower than in the previous year, tax prepayments shall be reduced in a swift and straightforward manner.

Loss carryback: In a decree dated 24 April 2020, the MoF permits an accelerated flat rate loss carry back of 15% the relevant 2019 income, limited to EUR 1 million for single individuals or corporations, EUR 2 million for joint filing individuals. The loss carryback is granted upon application.

On 28 May 2020, the German parliament adopted the “Corona Tax Assistance Act” which foresees a decrease of the VAT rate for restaurant and catering services from 19% to 7% (time limited to July 2020 to June 2021), an extension of the transitional regime of sec. 2b VAT act, an extension of retroactive periods in the Transformation Tax Act and partial exemption of employer subsidies for short time work in accordance with social security law. Furthermore a legal basis for the tax exemption for Corona special payments of up to EUR 1,500 in the period 1 March to 31 December 2020 already introduced with the BMF letter of 9 April 2020 was created in the Income Tax Act.

On 30 June 2020 the Government passed the “Second Corona Tax Assistance ActAssistance Act”
For a limited period from 1 July to 31 December 2020, the regular VAT rate will be reduced from 19% to 16% and the reduced VAT rate from 7% to 5%.

For the years 2020 and 2021, the tax loss carryback will be extended from the current EUR 1 million to a maximum of EUR 5 million and EUR 10 million (in the case of joint assessment). There is a mechanism to use the relief effect already in the 2019 tax return. In the first step of the mechanism (partial) reimbursement of the pre payments for 2019 (flat 30% of the 2019 taxable income with respective limit on the loss carryback). In the second step, preliminary loss carry back for 2020 of 30% of the total income of 2019. Moreover, it is possible to receive a temporary loss carry back exceeding the 30% limit upon request.

The possibility of degressive depreciation for wear and tear ( AFA) is made possible for the fiscal years 2020 and 2021. A maximum of 25 percent per year can be written off for movable fixed assets, capped at 2.5 times the current depreciation rate.

Doubling of the maximum tax assessment basis from EUR 2 million to EUR 4 million for expenditures eligible for the research allowance occurring after 30 June 2020 and before 1 July 2026.

Increase of the allowance for the addition of trade tax from EUR 100,000 to 200,000.

For small and medium sized enterprises, interim aid is granted for the months June to August across all sectors but with a focus on those industries particularly affected by the Corona crisis. Within this framework, up to 50 percent of the fixed operating costs can be reimbursed in the event of a drop in turnover of at least 50 percent compared to the same month of the previous year, and up to 80 percent of the fixed operating costs in the event of a drop in turnover of more than 70 percent. The maximum payment is EUR 150,000 for three months. A maximum volume of EUR 25 billion is estimated for the program.

Restaurant and catering services which are subject to the reduced tax rate due the Corona Tax Assistance Act, are expected to be taxed with VAT at a rate of 5 percent in the period from 1 July 2020 to 31 December 2020, 7 percent in the period from 1 January 2021 to 30 June 2021 and finally 19 percent again from 1 July 2021.

VAT payments suspended for four months; social security contribution payments suspended until June 30.

VAT reduced (from 24 percent to 6 percent) for goods related to addressing the outbreak
The payment of debts already due on 1 May 2020 or assessed and due to the Tax Administration between 01 May to 31 May 2020, as we ll as the payment of debt instalments or partial repayments due within May is suspended up until 30 September 2020 for private individuals that lease immovable property to affected enterprises (as listed for May 2020 measures) and employees of affected enterprises whose employment contract was suspended.

A discount of 25% may be granted for on time payment of debt instalments/partial repayment scheme instalments.

A corresponding suspension to 31 October 2020 was granted with respect to personal tax obligations due by the end of June 2020.

The payment of VAT due between 11 and 30 March 2020 is suspended up until 31 August 2020 for affected enterprises.

The payment of VAT already due on 11 March 2020 is suspended up until 31 August 2020 for affected enterprises.

The above apply for enterprises included in the list of “affected” enterprises within April, only for the VAT debts due within April.

No late payment interest or surcharges are calculated during the suspension period.

As a prerequisite for the suspension, the enterprise must maintain all job positions.

The payment of VAT due between 1 May to 29 May 2020 is suspended up until 30 September 2020 for affected enterprises.

The payment of VAT due on 01 May 2020 is suspended up until 30 September 2020 for affected enterprises (as listed for May 2020 measures).
The applicable VAT rate is reduced to 6% (from 24%) until 31 December 2020 for: 1) protective masks and gloves, 2) antiseptic products, wipes and relevant antiseptic products, 3) soap and other products used for personal hygiene purposes, 4) ethyl alcohol which is used as raw material for the production of antiseptics, as well as ethyl alcohol in non processed form sold bottled in retail for personal hygiene and protection purposes.

All manufacturing activities for the production of antiseptics by industrial and craft enterprises for the benefit of the Ministry of Health are VAT exempt, whereas the relevant input VAT will be deductible.
The applicable VAT rate is reduced from 1 June 2020 up to 31.10.2020 for the following goods and services: 1) Non alcoholic beverages, without addition of alcohol in any proportion ( Taric Code Classification 2202) and gaseous water (of Taric Code Classification 2201): 13%, 2) Theatre, concert and cinema tickets: 6%, 3) Transportation of persons and their luggage: 13%, 4) Exploitation of cafes, confectioneries, restaurants, grills, wineries and other related businesses (except for entertainment businesses) with the exception of beverages containing alcohol in any proportion: 13%.

Income taxes and VAT up to €30,000 per tax category and taxpayer pending for refund shall be refunded immediately, whereas a tax audit may still be conducted on a sample basis.

Hong Kong A one off reduction of 100% of the salaries tax and tax under personal assessment for 2019/20, subject to a maximum reduction of HK$20,000. The reduction will be deducted directly from the taxpayer’s 2019/20 final tax payable.

Automatic deferral for payments of salaries tax and tax under personal assessment due in April, May and June 2020 by three months.

A one off reduction of 100% of the profits tax for 2019/20, subject to a maximum reduction of HK$20,000. The reduction will be deducted directly from the taxpayer’s 2019/20 final tax payable.

Automatic deferral for payments of profits tax due in April, May and June 2020 by three months
Extended due date for filing Profits Tax returns for 2019/20 from 17 August 2020 to 15 September 2020 (only for entities with accounting date which falls between 1 and 31 December 2019).

The Hong Kong government has introduced an Employment Support Scheme which provides wage subsidies to eligible employers to retain their employees. Subsidies are calculated on the basis of 50% of wages (with a wage cap of HK$18,000 per month) for a period of six months (June to November 2020).

Employees temporarily only liable for a reduced share of social security contributions.

Employers temporarily not required to pay social security taxes.


Taxes originally due March 16 delayed to April 15
The tax on overnight stays (bed night tax) will be suspended temporarily from 1 April 2020 through 31 December 2021, and the due date for payments from January through March 2020 will be postponed until February 2022.

Reimbursement of VAT on labour for work carried out at a residential construction site will temporarily be increased from 60% to 100%. The authorization will also extend to vacation property and to design or supervision, the VAT reimbursement provision will be extended to the third sector organizations including charities and sports associations.

Employers can request authorization to defer up to three payments of pay as you earn (PAYE) tax and payroll tax due and payable from 1 April 2020 through 1 December 2020, upon fulfilment of certain requirements.

The bank tax reduction previously passed into law, which was to take effect in increments from 2021 to 2023, will be expedited and will take effect in full in 2021. This will give the banks extra scope to support households and businesses.


Six-month delay for income tax payments; corporate and income tax on imports delayed.

Hotel and restaurant tax temporarily suspended
Deferral of import taxes, relaxation of rules on value-added-tax refunds, and 30% reduction in corporate taxes approved for companies in 19 manufacturing sectors.

Employee income tax will be borne by the government for the tax period of April to September 2020, and is available for: 1) Companies that are registered under any of 440 sector codes (which are predominantly manufacturing); and/or, 2) Companies that are registered as export oriented companies (KITE status) and 3) Any employees whose regular income does not exceed IDR200 million (US$13,000) per year.

Advance VAT refunds of up to IDR5billion (US$330,000) (without automatic tax audit) for the tax period from April to December 2020 for qualified companies that are: 1) Registered under any of 716 business sector codes, 2) Registered as export oriented Companies (KITE status), 3) Certain qualified Bonded Zone Organizer or Enterprise.

CIT rate reduction from 25% to 22% for tax years 2020 and 2021 and to 20% for tax year 2022 and onwards. Additional reduction of 3% of CIT rate applies for certain qualified listed companies on IDX.

Employee income tax will be borne by the Government for the tax period of April to December 2020, and is available for: 1) Companies that are registered under any of 1,189 sector codes or, 2) Companies that are registered as Export Oriented Companies (KITE status) or, 3) Certain qualified Bonded Zone Organizer or Enterprise and 4) Employee's regular income up to the amount of IDR200 million (approximately USD13k) per year.


Interest on late payments for VAT and “pay as you earn” (PAYE) suspended.

Reimbursement program for payments to workers temporarily laid off of €203 per week.

€3 billion aid package including loans and direct subsidies.

For SMEs, the application of interest on late payments has been suspended for January/February and March/April and May/June VAT for SMEs.

Irish Revenue have indicated that they will prioritize the approval of repayments, primarily for VAT and PSWT refunds, to taxpayers.

Following a request from the Minister for Finance and Public Expenditure and Reform, Irish Revenue will allow the application of the zero rate of VAT to the supply to the Irish Health Service Executive (HSE), hospitals, and other health care settings of personal protection and specified medical equipment for use in the treatment of patients with COVID 19.

The zero rate may only be applied to supplies to hospitals, nursing and care homes, GP practices and the like; supplies to any other operators even if they are intended for onward supply to a health care provider are liable at the standard rate.

The Irish Tax Authority have confirmed that they will release the R&D tax credit that is due in 2020 before the statutory release date. Requests for the Irish Tax Authority to expedite the payment of any 2020 instalments of excess R&D tax credits should be made through 'MyEnquiries'.


VAT filing and payment delayed until 26th March
Registration certificates for computerized accounting system software that expired in the period starting from 1 March 2020 and ends on 30 June 2020, will be extended for a period of four months from the date of expiry.

For each employee who has been accepted for work or that has been returned from furlough that lasted at least 30 days, between n 1 9 April and 31 May 2020, the employer will receive a grant of NIS 3,500 in four equal beats during June to September 2020 (i.e., NIS 875 per month).

For each employee who has been accepted for work or that has been returned furlough that lasted at least 30 days, during June to September 2020, the employer will be awarded with a grant of NIS 7,500 in four equal beats during June to September 2020 (i.e., NIS 1,875 per month).


Extended deadlines through 31st May for affected areas.

50 percent tax credit for sanitation expenses; banks have option to convert some loss deductions to tax credits.

IRAP cuts: the self employed with previous FY turnover not greater than EUR 250 million have been exempted from the FY 2019 IRAP balance and the FY 2020 IRAP first advance payment.

Collection deeds: : payments originally due during the period between 8 March and 31 August 2020 arising from a variety of collection deeds such as tax bills, tax assessment notices, bills issued by Social Security Contribution Authorities etc. are postponed to 30 September 2020. Instalments due according to certain tax amnesty programs introduced in the past years may also be deferred.

Formal controls: tax payments due upon the tax authority’s automated controls and formal controls falling between 8 March 2020 and 31 May 2020 are postponed, without penalties and interest, to 16 September 2020 (in full or in four monthly instalments as of the same date)>.

Tax settlements: tax payments due from 9 March 2020 to 31 May 2020 related to several payment requests including deeds of settlement and alike are postponed without penalties and interest to 16 September 2020 (in full or in four monthly instalments starting from 16 September 2020)
The self employed may benefit from the following tax credits: Sanitation 60% of the cost for workspace and work instrument sanitation, as well as for the purchase of personal protection equipment (P PE) against the COVID 19 up to a maximum of EUR 60,000 (i.e., up for maximum EUR 30,000 tax credit), Rental 60% of the fees paid in March, April and May 2020 for the rental of a property used for business, professional or agriculture activities. The tax credit is equal to 30% if the rental is provided through mixed contracts or through the lease of a going concern. As a condition to benefit from such tax credit, tax payers exercising an economic activity should have experienced a turnover reduction during March, April and May 2020 (April, May and June 2020 for the seasonal hoteling sector) of at least 5 0% in respect of the same months of 2019, Workspace adaptation 60% of the COVID 19 adaptation costs (up to EUR 80,000) incurred in 2020 for work spaces open to the public. The tax credit c an be offset in FY 2021 against tax liabilities. The tax credit can also be transferred to third parties, Building renovation 110% of qualified building renovation and energy efficiency costs incurred between 1 July 2020 and 31 December 2021 against their tax liabilities in 5 equal instalments (up to certain thresholds). Individuals can convert the pre-existing tax credits connected with qualified building renovation and energy efficiency costs incurred during 2020 and 2021 into: (a) a transferable tax credit; or (b) a discount of the relevant cost applied by the service provider (in such case, the transferred tax credit is granted to the service provider). The tax credit can be neither asked for refund nor carried forward to subsequent financial years, Capital contribution 20% of the capital contributed (up to EUR 2 million) between 20 May 2020 and 31 December 2020 in qualified Italian companies w ith a turnover between EUR 5 million and EUR 50 million (on a group consolidated basis), which experienced a turnover reduction during March and April 2020 of at least 3 3% in respect of the same months of 2019 (on a group consolidated basis). The above tax credit can be used starting from 2021 (in the 2020 tax return). A recapture mechanism applies in the case of: (a) transfer of the shares received upon the capital increase or (b) reserve distributions, made before 1 January 2024. The tax benefit, cumulated with other COVID 19 benefi ts, cannot exceed the overall amount of EUR 800,000, Innovative SME 50% of investments (up to EUR 100,000) in capital increases of qualified innovative SMEs can be used against income tax.
The measure applies also in the case of intermediation of UCI mainly investing in the capital of innovative SMEs. The investment has to be maintained for at least three years.

VAT payments The following VAT payments are postponed to 16 September 2020 (in full or in 4 instalments): Specific sectors: Payments due up to 30 April 2020 for taxpayers operating in sectors particularly hit by the COVID 19 crisis (e.g. tourism, sport, entertainment, art, culture, education, transport, food, no profit), Payments due in the period 8 March 31 March 2020 For taxpayers with previous FY turnover up to EUR 2 million and who are established in Italy or have therein a fixed establishment (including, irrespective of any turnover, those located in Bergamo, Brescia, Cremona, Lodi an d Piacenza provinces), Payments due in the period 1 April 31 May 2020 by: (i) taxable persons with 2019 turnover not greater than EUR 50 million who experienced a March and April 2020 turnover reduction of at least 33 % compared to March and April of 2019 , (ii) taxable persons located in specific areas (e.g., Bergamo, Brescia, Cremona, Lodi and Piacenza provinces) even if their previous FY turnover was greater than EUR 50 million, (iii) taxable persons with a 2019 turnover higher than EUR 50 million that suffered in such months of a turnover reduction of at least 50 % compared to March and April 2019 ; (iv) all taxable persons who started their activities after 31 March 2019.

Tax settlements Payments due from 9 March 2020 to 31 May 2020 related to several payment requests including deeds of settlement and alike are postponed without penalties and interest to 16 September 2020 (in full or in four monthly instalments starting from 16 September 2020.

Plastic and Sugar taxes: The entry into force of both the plastic tax (specific indirect tax levied on plastic contained in non recyclable packaging products) and sugar tax (a tax on certain sweetened soft drinks) has been postponed to 1 January 2021.

"WHTs on income derived till 31 May by enterprises with turnover up to EUR 400,000, with no employment expenses during the previous month, are replaced by self assessed payments due by 16 September 2020 (in full or in four equal monthly instalments)."


Three-month deferral for employee tax payments.

Cash subsidy to the 3 million poorest Iranians.


Income tax, consumption tax, and gift tax deadlines delayed to April.

Personal income tax for business, Consumption tax and CIT payments can be deferred for up to a year without interest and collateral, if gross income decreases by 20% or more.

Property tax and city planning tax for qualified SMEs are reduced by 50% if gross income decreases by 30% or more, and by 100% if gross income decreases by 50% or more.

Corporations with common capital of JPY1 billion (US$10 million) or less (except those controlled by another company with common capital of more than JPY1 billion (US$10 million)) are eligible for one year NOL carryback.

Certain telework equipment introduced in accordance with certified investment plan is eligible for 7 - 10% tax credit or 100% accelerated depreciation.

Latvia VAT reclaim deadline extended to September 30 for non-EU countries.

Corporate tax and personal income tax delays.

Importing goods for purposes of fighting COVID 19 since 26 February 2020 (Article 74 of the EC Regulation 1186/2009), are exempt from customs duties.

Donating goods to health care sector for purposes of fighting COVID 19 since 26 February 2020, may deduct input VAT and no ‘private use rule’ applies.

Luxembourg Four-month deadline extension for all payments due after February 29 (corporate income, municipal business, and corporate net wealth taxes).

Case-by-case review of cancellation requests for first two quarterly corporate tax payments for 2020.

Individuals exercising an activity qualifying as commercial, agricultural and forestry or self employed activity can request a c cancellation of their advance of personal income tax (" PIT ") using a specific form for the first two quarters of 2020
Companies can request a cancellation of their advance of corporate income tax (" CIT ") and municipal business tax ( MBT ) payments (not for net worth tax (NWT) using a specific form for the first two quarters of 2020.
Malaysia Exemptions from sales tax, services tax, and import duties.

Personal tax relief of up to RM1,000 on domestic tourism expenditures for calendar years 2020 and 2021.

Pre retirement Private Retirement Scheme withdrawals of up to RM1,500, without an 8% tax penalty, from 30 April 2020 to 31 December 2020.
Property owners who rent their properties to SMEs with a reduced rent (of at least 30% of the original rental amount) from April 2020 to 30 September 2020 will be given a further deduction equivalent to the reduction in rental for the said period.

Minimum employee Employees Provident Fund (EPF) statutory contributions can be reduced from 11% to 7%.

Tax incentives for companies relocating to Malaysia include a 15 year 0% tax rate for new manufacturing sector investments with capital investments above MYR500m (approx. US$117m)
Annual income tax rebates of up to RM20,000 for three years of assessment for new SMEs established between 1 July 2020 to 31 December 2021. Stamp duty exemptions will also be available for SMEs on legal agreements used in any M&A activity between 1 July 2020 and 30 June 2021.

50% remission of penalty for late payment of sales tax and service tax due and payable from 1 July 2020 to 30 September 2020.

Tourist tax exemption from 1 July 2020 to 30 June 2021.

100% sales tax exemption on the sale of locally assembled passenger cars from 15 June 2020 to 31 December 2020.

50% sales tax exemption on imported passenger cars from 15 June 2020 to 31 December 2020

Tax lawsuit deadlines extended until 19th April.

As a result of feedback from the private sector, the government will now accelerate the payment of VAT refunds.

Netherlands Three-month delay for personal tax, corporate tax, and VAT.

Late payment interest fees reduced to 0.01 percent for personal tax, corporate tax and VAT.

Subsidies for 90 percent of wages for distressed businesses.

Reduction of Personal tax interest to 0.01% until 1 October 2020.

Reduction of VAT interest to 0.01% until 1 October 2020.

Until 1 September 2020, no VAT will be due on the supply of medical staff for designated medical facilities.

Effective from 25 May 2020, there will temporarily be no VAT due on medical and non medical face masks.

Until 1 September 2020 no VAT will be due on the free supply of specific medical COVID 19 equipment/goods.

Compensation fixed costs for Dutch SME’s (max 250 employees) that have suffered a turnover loss of more than 30%. The maximum amount is €50,000 per 3 months.
New Zealand Corporate tax: Reintroduction of depreciation deductions for commercial and industrial buildings; threshold for provisional tax increased.

The provisional tax threshold, which determines the requirement to pre pay taxes, has been raised from $2,500 RIT to $5,000. The change will take effect for the 2020/21 income year and is expected to result in 95,000 fewer taxpayers needing to pre pay their taxes.

Inland Revenue has extended the date by which taxpayers must inform the Commissioner of their election to use the GST ratio method for provisional tax for the 2021 year. Taxpayers unable to notify their election within the required timeframe as a result of COVID 19 have until 19 August 2020, or the day before the start of their 2021 income year (whichever is later) to make the election.

New rules have been enacted to allow taxpayers expecting a loss during the 2019/20 or 2020/21 years to obtain a refund of prior year taxes paid by carrying back the loss to the immediately preceding profit year. Carryback and offset can be based on estimated loss for the current year, but any over estimate (resulting in taxes that need to be repaid) will result in use of money interest. This scheme is intended to be temporary, with a permanent loss carryback mechanism to be introduced later in 2020. On 15 June 2020, Inland Revenue released an Interpretation Statement outlining the Commissioner’s understanding of new anti avoidance provisions that apply to the recently enacted loss carryback regime.

Loss continuity rules: Changes have been announced to relax the rules that allow for carry forward of tax losses from the 2020/21 income year, the legislation for this is expected to be introduced later in 2020.
Norway VAT and advanced tax payments delayed.

Employee payroll tax rate reduced by 4 percentage points for two months; net wealth tax reductions.

Two-year corporate tax loss carry back introduced
Reduced VAT rate (12 percent lowered to 8 percent) retroactive to 1st January; air passenger flight tax suspended from 1st January to 31st October.

"The current low VAT rate of 12% (applicable on passenger transport, cultural events etc.) has been
reduced to 6% from 1 April to 31 October 2020."

For companies reporting tax losses in the tax year 2020, losses are automatically carried back against taxable profits incurred in 2019 and/or 2018 up to NOK30 million. Companies should take this into consideration when determining the group contributions for the year 2019 . If no loss is to be carried back, companies need to specifically claim this in the corporate income tax return.
The deadline for the employer social security payment for the 2nd term 2020 (due 15 May 2020) is extended to 15 August 2020. The deadline for the employer social security payment for the 3rd term 2020 (due on 15 July 2020) is also extended to 15 October 2020.
Palestine Extended due date by which 2019 income tax returns must be filed.
Poland Personal income tax declaration delayed by one month; ability to defer social security contributions for three months.

Delay of SAF-T guidelines for VAT from 1st April t 1sto July.

The deadline to file new JPK_V7 forms (SAF T that is to replace monthly value added tax returns) is postponed until 1 October 2020.

The date of becoming effective of the retail tax was postponed from 1 July 2020 to 1 January 2021.

Donations to specific organizations involved in actions to mitigate the effects of COVID 19 will be tax deductible (donations made between 1 January and 30 April 2020 200%; in May 2020 150%; between 1 June and 30 September 2020 100%).

Perpetual usufruct (“ u¿ytkowanie wieczyste ”) fee payment date: 31 January 2021.

Exemption from the “minimum tax” on leased buildings due for the period from 1 March 2020 to 31 December 2020.
Portugal Suspension of social security contributions for affected businesses; certain corporate tax deadlines extended three months.

Extended due date by which 2019 income tax returns must be filed.

Deferral of the deadline for the 1st instalments of the Payment on Account ("Pagamento por Conta") and Additional Payment on Account of the CIT ("Pagamento Adicional por Conta"), from 31 July 2020 to 31 August 2020.

Deferral of the deadline to prepare and file the documentation adopted to comply with the transfer pricing rules until 31 August 2020.

The 10% increase of the autonomous tax rate should not apply to taxpayers reporting profits in previous years and a tax loss in 2020.

Extends the period of carry forward of tax losses incurred in 2020 and 2021 from 5 years to 10 years
Taxpayers may utilize up to 80% of tax losses, instead of 70%, if the difference (i.e., 10%) is due to tax losses incurred in the FY 2020 and 2021.

An extraordinary tax deduction of investment expenses has been reinstated, allowing for an additional 20% deduction of expenses incurred in the second semester of FY 2020 and the first semester of FY 2021 for the purposes of calculation of CIT base. The extra deduction is capped at 5m euro and it should be used across a maximum period of 5 FY’s, subject to maintaining of employment contracts during the period the benefit is granted, with a minimum of three years.

Temporary reduction of VAT rate on imports, transfers and intra EU acquisitions of protective face masks and skin sanitizers, varying according to the place of supply, as follows: 6% for continental Portugal, 4% for Azores Autonomous Region, 5% for Madeira Autonomous Region.

Annual profits tax deadline delayed from 25th March to 25th April.

VAT refunds process sped up.

Discounts for early payment of taxes are available to taxpayers

Saudi Arabia VAT increased from 5% to 15% effective 1st July 2020.

Social allowance (cost of living allowance) will cease from June 2020 for all state workers.

On 28 April 2020 , Saudi Arabia enacted Cabinet Decision No. 559 , to amend the Harmonized Tariff Schedule (HTS) and increase various customs duty rates. The changes take effect from 10 June 2020 and certain rates are increased up to 25%.

GAZT will defer the suspension of services and freezing of funds for Zakat and tax defaulters until 31 August 2020.

Suspending VAT payment on imports through customs and accept the payment through VAT returns until 30 September 2020.
Singapore Corporate Tax rebate of 25% or up to $15,000 per company for YA2020.

As no Goods and Services Tax rate increase was announced, the rate will remain at 7% in 2021; it is expected to increase to 9% sometime between 2022 and 2025.

Granting a Corporate Income Tax rebate of 25 of tax payable, capped at S 15 000 (US 10 700 for the year of assessment ( 2020).

All companies with Corporate Income Tax (payments due in the months of April, May and June 2020 will be granted an automatic three month deferment of these payments The CIT payments that are deferred from April, May and June 2020 will be collected in July, August and September 2020 respectively.

Granting of rebate of 100 60 30 % for property tax payable for the period 1 January to 31 December 2020 for qualifying commercial and other non residential properties.

Providing an option to accelerate the tax depreciation claim for plant and machinery acquired for YA 2021 over two years i.e., 75 % of the cost in YA 2021 and remaining 25 % in YA 2022.

Providing an option to accelerate the deduction of qualifying expenditures incurred on renovation and refurbishment for YA 2021 in one YA instead of over three consecutive YAs as currently allowed, subject to an expenditure cap of S$ 300,000 ( 214,200)
Consistent with the announcement by the US Internal Revenue Service and in light of the COVID 19 situation, IRAS is automatically extending the FATCA filing deadline for Reporting Year 2019 to 31 Aug 2020 (from 31 May 2020).

A new bill to mandate that landlords contribute by granting a rental waiver to their SME tenants. Also a cash grant given by the government to offset the rental costs of SME tenants, to be disbursed through property owners from the end of July.

Automatic deadline extensions for up to three months.

Unused tax losses from the 2015 2018 tax years can be used in the 2019 tax return, to a limit of EUR 1m.


Delay in income tax, deferral options.

All those resident taxpayers who will not be served with the 2019 informative tax calculation by 15 July 2020 will have their tax filing deadline moved to 31 August 2020.

Subject to certain conditions, supplies of goods intended for persons affected by the pandemic are temporarily exempted from VAT.

South Africa Acceleration of employment-tax-incentive reimbursement payments (from biannually to monthly) to increase liquidity of compliant employers.

The importation of “essential goods” (as defined in Regulation R.398 in Government Gazette No 43148 of 25 March 2020) will qualify for a VAT exemption on importation during the COVID 19 pandemic.

Excise duty payments due in May 2020 and June 2020 on alcoholic beverages and tobacco products will be deferred by 90 days for excise compliant businesses.

From 1 April 2020 to 31 July 2020, tax compliant Small, Micro and Medium Size Enterprise (SMME a business with gross income not exceeding R100 million) w ill be able to defer 35% of their employees’ tax liabilities. The deferred liability must be settled over six months (from 1 August 2020 to 31 January 2021).

A four month holiday for Skills Development Levy contributions by employers (1% of total salaries), beginning 1 May 2020 and ending on 31 August 2020. This is a suspension (not a deferral), and as a result, employers will not become liable for these amounts after 31 August 2020.

A three month delay in the filing and payment of Carbon Tax from 31 July 2020 to 31 October 2020.
The 2020 Budget tax proposals to restrict the net interest expense deduction to 30% of earnings and to limit an assessed loss ca rried forward to 80% of taxable income, were to be effective for tax years commencing on or after 1 January 2021. These measures will be postponed to 1 January 2022.
South Korea Personal tax deduction for personal credit card spending.

VAT cut for small businesses.

Tax preferences for replacing cars.

Increase of VAT exemption threshold for simplified VAT registrants (KRW 30 million to KRW 48 million) until the end of 2020.

Temporary VAT reduction for small size sole proprietor.
Spain Tax deferrals for six months.

The Statute of Limitations (SoL) and expiry periods of any actions and rights will be suspended during the period of validity of the State of Alarm and, if necessary, of any extensions adopted. Therefore, among others, the four year SoL period is suspended.
Sweden Ability to reclaim tax payments made from January to March.

Temporary rules on the deferral of VAT payments and the deferral of payments of employers’ social security contributions and preliminary taxes withheld from employees’ salaries in will be in effect from 30 March 2020, but with retroactive effect from 1 January 2020, meaning that VAT already paid may be reclaimed. VAT and CIT payments relating to a maximum of three months during the period.

January to September 2020 may be deferred for up to a year. Deferral will be denied only for special reasons. There will be an annual interest cost of 1.25% and 0.3% monthly fee, which are non deductible. The cost will be reduced: For the first six months only 1.25% interest is charged, thereafter, a 0.2% monthly fee will also apply.
Switzerland VAT payment holiday through the end of 2020.

Late payment interest has been reduced to 0% between 21 March 2020 and 31 December 2020.

Customs duty on the import of important medical supplies are suspended from 10 April 2020 to 9 October 2020.
Thailand Personal Income withholding tax cut from 3 percent to 1.5 percent for six months; doubled tax benefit for investing in long-term mutual funds.

The personal income tax filing deadline and payment for the tax year 2019 has been extended, from 30 June 2020 (previously extended from 31 March 2020) to 31 August 2020.

Extend monthly indirect tax (VAT, specific business tax) filing and payment from 1 March 2020 to 30 April 2020 to 1 June 2020, from 1 May 2020 to 31 May 2020 to 30 June 2020, from 1 June 2020 to 30 June 2020 to 31 July 2020, from 1 July 2020 to 31 July 2020 to 31 August 2020, from 1 August 2020 to 31 August 2020 to 30 September 2020 (for e filing).

A deduction of 1.5 times the actual interest expenses allowed for SMEs with soft loans. SMEs, who have single books of account and participate in the soft loan scheme of the government, can deduct 1.5 times interest expenses paid from 1 April 2020 to 31 December 2020.

A deduction of 3 times the wages expense for SMEs. SMEs can deduct three times the actual wages payment for the months of April 2020 to July 2020, which are made under the prescribed conditions.

Reduction of withholding tax rate. WHT rate reduction for service fees under this measure shall be applicable to both individual and company or juristic partnership as follows: From 3% to 1.5% from April 2020 to September 2020. From 3% to 2% from October 2020 to December 2021 (only filing via e withholding tax system).

Extend annual corporate income tax filing and payment for companies or juristic partnerships that are not listed on the Stock Exchange of Thailand from May 2020 to 31 August 2020.

Reduction of transfer fees for the transfer of immovable property due to a prescribed debt restructuring from 2% to 0.01%, effective from the publication date in the Royal Gazette to 31 December 2021.
Turkey Six-month tax deferral for retail and transportation sectors.

VAT on domestic air travel cut from 18 percent to 1 percent.

Relief for pensioners.

Turkey has a implemented short time working payment system.

The levying of accommodation tax is suspended until 1 January 2021 by Law No. 7226.
United Kingdom Deferral of all VAT payments until 30 June 2020, with 9 months to make up payments. Filing of returns still required.

Automatic deferral of Self Assessment payment on account due 31 July 2020 until 31 January 2021.

In addition, Self-employed income support scheme and Job Retention Scheme (furloughed employees) both administered by HMRC.

HMRC has confirmed that VAT registration applications can be made by email with scanned registration applications and supportive documentation. There is no requirement to send original copies of the documents.

On 30 April 2020 HMRC published a Business Brief which announced that a temporary VAT zero rate will apply to all supplies of Pe rsonal Protective Equipment which are made between 1 May and 31 October 2020 and which are recommended for use by Public Health England in its guidance dated 24 April 2020 titled ‘Guidance, COVID 19 p ersonal protective equipment (PPE)’. This includes supplies made from existing stock.

Products covered by the zero rate include: Disposable gloves, Disposable plastic aprons, Disposable fluid resistant coveralls or gowns, Surgical masks including fluid resistant type IIR surgical masks, Filtering face piece respirators, Eye and face protection including single or reusable full face visors or goggles.

From 15 July 2020 to 12 January 2021, a reduced (5%) rate of VAT will apply to supplies of food and non alcoholic drinks from restaurants, pubs, bars, cafés and similar premises across the UK. Further guidance on the scope of this relief will be published by HMRC in the coming days.

A temporary VAT cut for accommodation and attractions From 15 July 2020 to 12 January 2021, a reduced (5%) rate of VAT will apply to supplies of accommodation and admission to att ractions across the UK. Further guidance on the scope of this relief will be published by HMRC in the coming days, but the Chancellor said this would include campsites, hotels, cinemas, theme parks and zoos.

No VAT and import duties will be imposed for certain medical supplies imported from outside the EU until 31 October 2020.

Business rates (property tax) in England will be abolished for firms in the retail, leisure and hospitality sectors specific e xemptions apply.

From August, employers will have to start paying a percentage (to be determined) toward the salaries of their furloughed staff. However, they will also be able to bring back furloughed workers part time and still receive furloughing payments.

A job retention bonus of £1,000 for employers who bring back furloughed employees until at least 31 January 2021 while paying them at least £520 a month on average from the end of the CJRS scheme in October 2020 to 31 January 2021.

Employers can claim £2,000 for new apprenticeships create for under 25s, and a £1,500 payment for each new apprentice they hire aged 25 and over, from 1 August 2020 to 31 January 2021. These payments will be in addition to the existing £1,000 payment the Government already provides for new 16 18 year old apprentices (and those aged under 25 with an Education, Health and Care Plan).
Employers can claim £1,000 for new traineeships for 16 to 24 year olds.

Universal Credit and Working Tax Credit standard allowance extended by £1,000/yr for the next 12 months.
Ukraine VAT exemptions for imports. connected to addressing the outbreak  
US Tax payments delayed to 15th July
Short-term expansion of paid sick leave; total fiscal relief under negotiation could exceed $1,7 trillion.

Unemployment insurance provisions now include an additional $600 per week payment to each recipient for up to four months, and extend UI benefits to self-employed workers, independent contractors, and those with limited work history. The federal government will provide temporary full funding of the first week of regular unemployment for states with no waiting period and extend UI benefits for an additional 13 weeks through 31st Dec 2020 after state UI benefits end.

The proposed recovery rebates will use 2019 tax returns (2018 if the taxpayer has not filed in 2019) to determine the advanced rebate amount and reconcile the rebate based on 2020 income. This means that taxpayers who receive a smaller rebate than they are eligible for based on 2020 income will receive the difference after filing a 2020 tax return, but overpayments of rebates due to a higher income in 2020 will not be clawed back.

Employers are eligible for a 50 percent refundable payroll tax credit on wages paid up to $10,000 during the crisis. The credit would be available to employers whose businesses were disrupted due to virus shutdowns and those that had a decrease in gross receipts of 50 percent or more when compared to the same quarter last year. The credit can be claimed for employees who are retained but not currently working due to the crisis for firms with more than 100 employees, and for all employee wages for firms with 100 or fewer employees.

Certain employer payments of student loans on behalf of employees are excluded from taxable income. Employers may contribute up to $5,250 annually toward student loans, and the payments would be excluded from an employee’s income.

Pay cheque protection plan which is meant to help small businesses (fewer than 500 employees) impacted by the pandemic and economic downturn to make payroll and cover other expenses from 15th February to 30th June.

Notably, small businesses may take out loans up to $10 million—limited to a formula tied to payroll costs—and can cover employees making up to $100,000 per year. Loans may be forgiven if a firm uses the loan for payroll, interest payments on mortgages, rent, and utilities and would be reduced proportionally by any reduction in employees retained compared to the prior year and a 25 percent or greater reduction in employee compensation.

Recovery rebate for individuals The bill would provide a $1,200 refundable tax credit for individuals ($2,400 for joint taxpayers).

Additionally, taxpayers with children will receive a flat $500 for each child. The rebates would not be counted as taxable income for recipients, as the rebate is a credit against tax liability and is refundable for taxpayers with no tax liability to offset. The rebate phases out at $75,000 for singles, $112,500 for heads of household, and $150,000 for joint taxpayers at 5 percent per dollar of qualified income, or $50 per $1,000 earned. It phases out entirely at $99,000 for single taxpayers with no children and $198,000 for joint taxpayers with no children
Waiver of 10 % early withdrawal penalty for retirement plan distributions up to 100,000 for coronavirus related purposes. Distributions would be subject to tax over three years. Taxpayer may recontribute the funds within three years without regard to yearly cap on retirement plan contributions.

Eligible employers will receive a 50% credit on qualified wages against their employment taxes for each quarter, with any excess credits eligible for refunds. An eligible employer is one with operations suspended by orders issued in response to COVID 19 or one that has suffered a significant decline (more than 50% decrease year over year) in gross receipts during the quarters that begin with the quarter in which gross receipts declined by more than 50% and ending with the quarter in which gross receipts have recovered by more than 80%.

Temporary increase in the amount of the interest expense deduction by increasing the 30% limitation to 50% of EBITA for 2019 and 2020.

Deferred payment of employer share of the Social Security tax (6.2% of employee wages) from the date of enactment through 31 December 2020. Half the amount of such payment due 31 December 2021, remainder due 31 December 2022.

Temporary allowance of net operating loss (NOL) carrybacks a loss from 2018, 2019, or 2020 can be carried back five years.

Taxpayers that carryback NOLs to a year in which the transition tax (under Section 965) applies will be treated as making an election under Section 965(n) that allows taxpayers to preserve their NOLs.

Temporary allowance of NOLs to fully offset taxable income without limitation.

Modification of loss limit for pass throughs (to allow for the same NOL carryback benefit as corporations.

Temporary exception from excise tax for alcohol used to produce hand sanitizer for 2020.