Intax Insider
07.04.2020

OECD RECOMMENDS

OECD prepared a short list of tax measures recommended for governments to overcome the economic consequences of the crisis. Among them:

  • the abolition or reduction of social taxes from the payroll and self-employed;
  • tax concessions for workers in health and other emergency-related sectors;
  • Providing additional time for dealing with tax affairs, adjusting tax filing and payment requirements and advance payment schemes, etc.
  • Deferring payments of VAT, customs or excise duties for imported items;
  • Speeding up refunds of excess input VAT and tax refunds;
  • Simplifying procedures for some taxes such as property taxes and business turnover taxes;
  • Increasing the generosity of losscarry backward

Many countries have already prepared or are in the process of adopting special bailout package of laws.

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