Department of Tax Announcement – Payment of VAT in installments, for the periods ending on 31/12/2020 and 31/1/2021, in the context of managing the effects of the COVID -19 epidemic

As per the Department of Tax announcement by Law N. 5 (I) / 2021 (here in Greek), taxable persons who are not included in the categories defined in the Law (presented in detail in the pdf file List of Economic Activities Sectors), and have an amount to be paid in the tax returns that concern the tax periods ending on 31/12/2020 and 31/1/2021 with deadlines for submission and payment of VAT due on 10/2/2021 and 10/3/2021 respectively, may proceed to payment in (3 ) equal installments payable on 10/4/2021, 10/5/2021 and 10/6/2021.

Specifically:

  • For the tax period ending on 31/12/2020 and the submission deadline on February 10, 2021, the first installment must be paid on 10/4/2021, the second on 10/5/2021 and the third on 10 / 6/2021.
  • For the tax period ending on 31/01/2021 and the deadline for submission is March 10, 2021, the first installment must be paid on 10/4/2021, the second on 10/5/2021 and the third on 10 / 6/2021.

It is noted that in order for the above regulation to apply, the tax return for each period must be submitted normally before or at the deadline and it must present the correct total VAT payable that concerns it regardless of whether it is selected to be paid in instalments as per above.

If the taxable person does not want to benefit from the above arrangement, for all or part of the amount he has to pay in relation to the specific tax period covered by this arrangement, he can pay the amount he wishes at the time of submission of  his declaration or at any other time until 10/4/2021 without the imposition of financial charges or interest. For the amount that will remain due on 10/4/2021, he will be able to pay it in at least 3 equal installments as analyzed above.

For each installment or other payment you will be able to pay VAT through internet banking based on the payment reference number at the Tax Portal, choosing from the “debt statement” – “VAT”, («κατάσταση οφειλών» – «ΦΠΑ»,) the period for which the payment is made. Based on this information, you do not need to contact the Tax Department for codes and payment forms.

It is pointed out that, in the event that the payment of the due tax for these two tax periods is not made according to the specific regulation (in 3 equal installments on the specified dates), a 10% surcharge and interest on the due tax will be imposed.

The original article in Greek can be found Here.

 

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