VAT PAYMENTS

 Filenews 12 November 2020

The Tax Department informs today that after the legislation to pay VAT in six instalments (Law 147(I)/2020), the first instalment had a deadline of 10 November 2020.

The next five instalments should be paid no later than the 10th of each month for the next five months (10/12/2020,10/1/2021,10/2021,10/3/2021 and 10/4/2021), the Tax Department says.

The Department notes that, if the payment of the above tax is not made in accordance with this regulation (in at least six equal instalments on the specified dates), interest and a 10% financial charge are charged on the tax due.

At the same time, it informs interested parties that they can find out about the VAT due on the above arrangement, after they have connected to the "Tax Portal" and choose a "debt statement" to see their account.

According to the notice, THE PAYMENT OF VAT is made via internet banking based on the payment reference number on the Tax Portal, choosing from the "statement of debts - VAT", the period for which the payment is made. On the basis of this information, there is no need to contact the Tax Department for payment codes and forms.