Due to the situation around the coronavirus, the government has taken a number of measures to mitigate the effects of the current crisis. One measure is the remission of the penalty for late filing of the income tax return and the waiver of the penalty for late payment of due tax, as it is clear that these obligations will not be met by all taxpayers by the end of March 2020.
However, the public is wrong to spread the information that the deadline for submitting the tax return of natural and legal persons has been extended without the need for notification of an extension of the deadline for submitting the tax return, the so-called deferral of the tax return.
Failure to submit a tax return by the end of March, or failure to submit a deferral, may have negative consequences for tax entities, unless the government, by changing the legislation, brings mitigation in this regard.
Higher advances from 1 April to 30 June 2020
Where the taxable person has been obliged to pay advances on income tax on the basis of the 2018 tax return or has been required to pay advances on the basis of the 2019 calendar year return and will not submit a tax return or extend the deadline for submitting the tax return by the end of March 2020, this may have negative consequences for him in the form of an obligation to pay higher advances than he might otherwise be obliged to.
Higher social contributions from 1 July to 30 September 2020 for sole traders
Also, self-employed people can legally influence the payment of social security contributions by submitting either the return itself or notifying the tax office of the extension of the deadline for filing their tax return within the deadline for filing their tax return. If they are not careful, they can also pay for it with higher social security contributions.
Impossibility of remitting 1% or 2% tax on tax returns
Another consensus associated with not submitting a tax return or announcing an extension of the deadline for submitting a tax return until the end of March 2020 is the possibility of remitting 1% and 2% respectively of the tax paid for specific purposes. If taxable persons wish to remit 1% or 2% of the tax paid for specific purposes through their tax return, they must, according to the current legislative situation, either submit or announce an extension of the deadline for submitting the tax return by the end of March 2020.