The tax authorities have announced a postponement of several tax deadlines from May 2020 following an unprecedented health crisis! Several postponements having been announced, it seems important to go back over the latest published elements.
Filing of the year end statement : automatically postponed to June 30st 2020*. Also concerns the CVAE 1330 declaration and the DECLOYER
Payment of the balance of corporation tax : a request to defer filing and payment until June 30st 2020 can be made*.
Payment of the balance of the value added tax (CVAE) : in the case of a crediting CVAE, the return is still due on 05 May 2020. If it is a debit, the payment and the declaration can be postponed until 30 June 2020*.
Concerning VAT (CA12): no deferral is possible.
Be careful, however: the tax authorities now informally refer to a distinction between companies in financial difficulties and companies with material difficulties when calculating the amount of tax due. For companies with material difficulties, only those with less than 10 million in turnover would be allowed to defer payment of their tax. The others would be required to pay an estimated amount before 31 May 2020. In view of this uncertainty and the subjective nature of the assessment of financial difficulties, it is advisable to request a deferral only if the company is faced with a significant decline in its activity.
If you have any doubts about a payment or a declaration, do not hesitate to contact us.
*: For companies and groups with more than 5,000 employees or €1.5 bn. in turnover: to benefit from these deferrals, the company must undertake not to pay any dividends or repurchase shares until December 31, 2020.