There is a project extending the CIT settlement for 2021
On the website of the Government Legislation Centre, a draft regulation of the Minister of Finance has been published, which extends the deadline for CIT settlements for the previous year.
According to the regulations, CIT taxpayers are obliged to submit to tax offices a tax return, according to the prescribed form, on the amount of income earned (loss incurred) in the tax year – by the end of the third month of the following year and to pay the tax by this date (if the return indicates so).
– The regulation proposed in the regulation extends the deadline for filing a tax return and paying due CIT until the end of June 2022. The proposed change will apply to all taxpayers whose tax year ended between 1 December 2021 and 28 February 2022. They will have an extended deadline to file a return and pay tax. Also, taxpayers of lump-sum tax on corporate income (the so-called Estonian CIT), whose first year of lump-sum taxation begins in the period from 1 January 2022 to 1 March 2022, will be covered by this regulation. Thus, in such a situation, the deadline until 30 June 2022 for showing income, costs and income from the transformation in the return filed, as a rule, “by the end of the third month of the first year of lump-sum taxation on the income of companies” will be extended. In turn, the deadline resulting from art. 7aa sec. 9 item 4 of the CIT Act for payment of tax due on income from transformation is automatically extended to 30 June 2022. – Marcin Socha, tax adviser, manager at Thedy & Partners, points out.
The proposed regulation is to enter into force on the day following its announcement in the Journal of Laws.