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The postponement of the report and annual tax returns affected almost 600,000 companies and organizations, of which another 120,000 expect the tax authority to file a corporate tax return, for which they have four days left, Secretary Norbert Izer told MTI State of Taxation of the Ministry of Finance.
Businesses and organizations must also submit their annual reports to the courts before September 30, 177,000 have yet to do so, the secretary of state said.
The report should have been filed before midnight on June 2, with corporate tax reported and paid. However, due to the coronavirus epidemic, the government annulled the rules on deadlines and granted a 4-month postponement to companies and organizations. According to the Secretary of State, the data clearly shows that the tax measure was not only necessary for health reasons. The deferral was granted to two out of three companies, mainly small and medium-sized companies, for which the new rule provided financial assistance in addition to administrative ease.
Izer Nobert Between September 14 and 24, about 32,000 companies filed their corporate tax returns. The statistical data set for the accounting reports shows an even greater increase: in just one day, on September 23, the Company’s Service received more than six thousand reports, he added.
The Secretary of State noted that almost two-thirds of the NGOs had already submitted their reports and approximately 22,000 organizations had left their accounts for submission in the final days of the deadline. Norer Izer said that after the abolition of the recharge obligation, most companies normally have to pay taxes when filing their annual return. However, a business that paid more tax advances in 2019 will receive a refund of the overpaid amount within 30 days of filing the return. On September 23, the tax office had already returned a total of 150 billion HUF in corporate taxes.
The tax filing deadline of September 30 applies to corporation tax, innovation tax, energy supplier income tax, local business tax, and small business tax.
It is important that the tax is also paid until the last day of September. All you have to do is present the transfer price documentation at the end of September, including the food chain supervision fee, whose declaration and payment deadline is also September 30, 2020.
Featured Image: MTI / MTVA
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