First support measures begin, with postponement of outstanding tax payments to August

First support measures begin, with postponement of outstanding tax payments to August

The government's package of measures to support businesses and individuals affected by coronavirus measures began its implementation on Friday (March 20) with two ministerial decisions signed by Deputy Finance Minister Apostolos Vesyropoulos.
The move came after consulting with the head of the Independent Public Revenue Authority, Giorgos Pitsilis.
Immediate measures include the suspension of VAT and other tax payments for businesses and individuals suffering from the coronavirus measures.
Specifically, payment of outstanding debts that had a deadline between March 3 and April 30, 2020 will be extended to August 31. The same will hold true of debts under an installment plan. The The same exact dates of payment deadlines and the August extension also holds true for VAT-related debts.
In all cases above, no interest will be accruing between March and April.
At the same time, businesses benefiting from the above are forbidden from laying off any staff and are obliged to keep the same number of personnel during the suspension of payments. Otherwise, the Ministry of Finance said, violators will face cancellation of the grace period and will be obliged to pay the debts with both interest and late fees.

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