Essential Opportunities For Easy Tax Submissions

Deferment is possible for contributions due in April, May and June. Deferred contributions must be paid by the taxpayer no later than 31.3.2022, which can be done in a lump sum or in installments. Deferred interest also does not accrue default interest.

However, self-employed persons with outstanding liabilities that are due by 28 February 2020 and are higher than EUR 50 are not entitled to deferment if they are not settled by 6 April 2020.

Who is entitled to an exemption from social security contributions, for what period and what is the procedure?

The self-employed (not the afternoon sp), religious employees, partners and farmers are entitled to exemption from contributions. Such a person must also have overdue tax liabilities settled on the day of the application and must meet the same conditions as for obtaining a monthly basic income. The use of tax calculator is important.

Monthly basic income for the self-employed

Who is entitled to a monthly basic income, how much is it and how do you get it?

• Beneficiaries are the self-employed, partners, religious employees and farmers who, due to the epidemic, are unable to carry out their activities or perform them to a significantly reduced extent and have no outstanding tax liabilities on the day the law enters into force. Significantly reduced business volume means a reduction of at least 25% in the beneficiary’s revenue in March 2020 compared to February 2020 or at least a 50% reduction in the beneficiary’s revenue in April or May 2020, compared to February 2020. Because business events are recognized when they occur and not just upon payment, this means that the reduction in revenue will be judged according to the rules of accounting standards – revenue will be recognized when the service or delivery is performed, regardless of whether the invoice is issued or paid.
• For the month of March, the monthly basic income amounts to EUR 350, and for April and May to EUR 700 each, if the beneficiaries performed the activity at least from 13 March 2020 until the entry into force of the law.
• For the payment, it is necessary to submit a statement by 31 May 2020 at the latest, by which the beneficiary declares that due to the epidemic he is unable to carry out his activity, or is carrying it out to a significantly reduced extent. Beneficiaries will submit statements, from 14.4. forward.

Will you have to return the monthly basic income?

Only self-employed people whose income in the first half of 2020 will fall by more than 20% compared to the same period in 2019 and in the second half of 2020 will not achieve more than 20% revenue growth compared to the same period in 2019 are eligible for assistance. Otherwise, the aid will be repaid in full.