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COVID-19 Tax Deferment scheme

Eligible beneficiaries

Companies and full-time self-employed persons that suffer at least 25% downturn in their turnover.

Companies and self-employed persons which have failed to comply with their tax obligations (submission of documents / returns and payments) falling due by the 31st December 2019 are specifically excluded from this scheme.

Application deadline

Applications are received online by not later than 15th April 2020

Eligible taxes

Provisional tax, employees’ taxes, maternity fund contributions, social security contributions and VAT which fall due in March and April 2020

Benefit of deferment

No interest or penalties will be charged in respect of eligible taxes that would have been deferred in terms of this scheme.

Settlement period

Provisional tax, employees’ taxes, maternity fund contributions, social security contributions to be settled in four equal monthly instalments in the four month period between May and August 2020.

VAT dues to be settled in two equal instalments with the two quarterly returns immediately following the quarter whose dues would have been deferred.

Submission documents

The required tax documents and returns still needs to be submitted by the due date as required by law.

Anti-abuse

The benefit granted under this scheme shall be forfeited if the beneficiary is found to be in breach of any of its terms and conditions making use of this scheme under false pretences. In case of forfeiture, beneficiaries will have to settle their dues as demanded by the Commissioner for Revenue and such payments shall be subject to interest or penalties as stipulated by law.