WE ARE HIRING

Employment | Trainee Auditor

MPL Ltd in collaboration with Rödl & Partner, an expanding Limassol-based audit accounting and consulting firm, is looking to employ a suitable ACCA Trainee Auditor.

The Opportunity:

  • Conducting audit, consulting, or tax services for a variety of clients under the supervision of experienced qualified auditors
  • Involved in all stages of the audit of a company
  • Assisting in the preparation of tax computation and tax returns
  • Reporting findings and progress to senior staff members of the team
  • Attend client meetings and develop communication skills

Requirements:

  • High School Diploma or equivalent
  • University degree in relevant discipline
  • Excellent knowledge of Greek and English languages (written and spoken)
  • Excellent knowledge of MS Office
  • Excellent time management and organizational skills
  • Great attention to detail
  • Team working skills
  • Eager to learn, committed and curious

Interested applicants should forward their CV to angela@mplaccountants.com.


COVID-19 Travelling

Epidemiological risk assessment of countries as of 10th of June 2021 and vaccinated passengers

As of 10th of June, the following applies:

Green Category countries – Low risk countries at current stage

  • European Union member states: 1) Malta
  • Schengen members: 1) Iceland
  • Third countries: 1) Australia, 2) New Zealand, 3) Singapore, 4) Saudi Arabia, 5) South Korea, 6) Israel

Passengers are not required to hold a COVID-19 test certificate or self-isolate.

Orange Category countries - Countries with possibly low risk but greater uncertainty compared to the Green Category

  • European Union member states: 1) Portugal, 2) Ireland, 3) Finland, 4) Romania, 5) Austria, 6) Bulgaria, 7) Czech Republic, 8) Hungary, 9) Poland, 10) Italy, 11) Germany, 12) Croatia, 13) Slovakia, 14) Spain, 15) Luxemburg
  • Schengen members: 1) Norway
  • Third countries: 1) China (including Hong Kong and Macau), 2) United Kingdom, 3) United States of America

Passengers are required to undergo a PCR laboratory test within 72 hours prior to departure and to possess a certificate showing a negative PCR result.

Passengers falling into the following categories, may undergo the molecular examination upon arrival in the Republic:

  1. Cypriot citizens and family members (alien spouses and their underage children),
  2. Persons legally residing in the Republic,
  3. Persons entitled to enter the Republic under the Vienna Convention, and
  4. Persons, irrespective of nationality, whose countries of residence (Orange category) do not provide a laboratory testing service, upon substantiation and following an announcement by the Ministry of Health of the Republic of Cyprus.

The examination cost will be borne by themselves. These passengers shall remain in self-isolation until the test result is issued.

Red Category countries – Increased risk countries compared to the Green and Orange Categories:

  • European Union member states: 1) Belgium, 2) France, 3) Greece, 4) Netherlands, 5) Denmark, 6) Slovenia, 7) Estonia, 8) Latvia, 9) Lithuania, 10) Sweden
  • Small states: 1) Andorra, 2) Monaco, 3) Vatican City, 4) San Marino
  • Schengen members: 1) Switzerland, 2) Liechtenstein
  • Third countries: 1) Rwanda, 2) Russia, 3) United Arab Emirates, 4) Ukraine, 5) Jordan, 6) Lebanon, 7) Egypt, 8) Belarus, 9) Qatar, 10) Serbia, 11) Thailand, 12) Armenia, 13) Georgia, 14) Bahrein, 15) Kuwait, 16) Canada, 17) Japan

Passengers are required to: a) undergo a PCR laboratory test within 72 hours prior to departure proving a negative PCR result and b) undergo a laboratory test upon their arrival in the Republic of Cyprus.

The examination cost will be borne by themselves. These passengers should remain in self-isolation until the test result is issued.

The following categories of passengers may enter the Republic of Cyprus from Red Category countries, after having undergone, at their own expense, a laboratory test only upon their arrival in the Republic of Cyprus:

  1. Cypriot citizens and family members (alien spouses and their underage children),
  2. Persons legally residing in the Republic, and
  3. Persons entitled to enter the Republic under the Vienna Convention.

In such case, persons falling within the categories 1-3 above must remain in mandatory self-isolation for 72 hours upon arrival and after the end of the 72-hour period they must undergo another PCR test, at their own expense. If the repeat test is negative, they can then terminate their isolation. The test result must be sent to the following email address: monada@mphs.moh.gov.cy.

Grey Category countries (Special Permission):

Countries that are not mentioned in the aforementioned categories (green, orange and red) are considered to belong in the Grey Category (Special Permission). For the Grey Category countries, entry into the Republic of Cyprus is only allowed for the following categories of passengers:

  1. Cypriot citizens and family members (alien spouses and their underage children),
  2. European citizens and citizens of European Economic Area countries (Iceland, Liechtenstein, Norway) and Switzerland,
  3. Persons legally residing in the Republic,
  4. Persons entitled to enter the Republic under the Vienna Convention, and
  5. Third country nationals who are allowed to enter the Republic of Cyprus following a special permission from the Republic, as this is defined in the Quarantine Decree (N.9) of 2021, as this is modified each time.

Passengers coming from countries of this Category shall be required to undergo a laboratory test at a certified lab within 72 hours prior to departure for Cyprus and show a negative PCR result. Excluding category number 2 above, the rest of the passengers may undergo the laboratory test upon their arrival in the Republic of Cyprus, at their own expense.

Passengers arriving in the Republic of Cyprus from the Grey Category countries (Special Permission) shall remain in mandatory self-isolation or mandatory quarantine for a period of fourteen (14) days or alternatively, in mandatory self-isolation or mandatory quarantine for a period of seven (7) days provided that they undergo another Covid-19 test (at their own expense) on the 7th day and the result is negative. The test result must be sent to the following email address: monada@mphs.moh.gov.cy.

 

 

Conditions applied to vaccinated passengers

The Ministry of Health clarifies that the following apply, as of 10 May, to vaccinated passengers arriving in the Republic of Cyprus from its points of entry:

Passengers holding a valid certificate of vaccination against COVID-19 arriving in Cyprus from abroad, regardless of their nationality and country of departure, shall be exempted from the obligation of laboratory testing and self-isolation/quarantine, subject to the following conditions:

1) They hold a valid certificate of vaccination issued by the following states:

  1. EU Member States (including Cyprus)
  2. EEA Member States (Iceland, Liechtenstein, Norway)
  3. Switzerland
  4. Israel
  5. United Kingdom
  6. Russia
  7. United Arab Emirates
  8. Saudi Arabia
  9. Ukraine
  10. Jordan
  11. Lebanon
  12. Egypt
  13. Belarus
  14. Serbia
  15. Qatar
  16. Bahrein
  17. United States of America
  18. Armenia
  19. Georgia
  20. Canada
  21. Kuwait

2) They have been vaccinated either with one of the vaccines approved by the European Medicines Agency (Pfizer/BioNTech, AstraZeneca, Moderna, Janssen), or with Sputnik V vaccine, or with Sinopharm (BBIBP COVID-19) as of 21 May, and have completed their vaccination scheme. It is noted that for vaccines that are administered in two doses, passengers must have been administered both doses, while for the Janssen vaccine (single dose vaccine) 14 days must have elapsed between the administration of the vaccine and the date of travel. More information is available on: https://cyprusflightpass.gov.cy/en/vaccinated-passengers.

***All passengers, regardless of the country’s category, including those holding a valid certificate of vaccination, are obliged to apply for the CyprusFlightPass 24 hours before the departure of their flight.

***For the protection of public health and the monitoring of the epidemiological situation, passengers of selected flights (including passengers holding a vaccination certificate) may undergo a random laboratory molecular testing carried out by the Ministry of Health.


Vaccination Certificate

Passengers holding a vaccination certificate from the Republic of Cyprus will not be subjected to self-isolation and mandatory testing upon arrival in Cyprus

The Ministry of Transport, Communications and Works announces that following a decision by the Council of Ministers, as of 1 April 2021 all passengers who have been vaccinated for COVID-19 and hold a valid Certificate from the Republic of Cyprus, upon their arrival in Cyprus, irrespective of the country from which they are travelling, will be exempt, for the purposes of entry into Republic of Cyprus, from the following:

  1. the obligation to undergo laboratory tests
  2. any obligation for self-isolation / quarantine

This is upon condition that a specific number of days, determined by the Ministry of Health, has elapsed between the last dose (depending on the vaccine administered) and the date of travel.

Relevant information: CyprusFlightPass.

 

***Upon their arrival in the Republic of Cyprus, such passengers will not be exempt from the random testing carried out by the Ministry of Health as well as the meticulous implementation of the health protocols valid in the Republic.

***Passengers holding a valid vaccination certificate from the Republic of Cyprus, are not exempt from the obligation of filling out the relevant online application: CyprusFlightPass.


COVID-19 – Epidemiological risk assessment of countries concerning as of 1st of April 2021

As of 1st of April the following applies:

Green Category countries – Low risk countries at current stage

  • Schengen member states:  1) Iceland
  • Third countries: 1) Australia, 2) New Zealand, 3) Singapore, 4) Saudi Arabia

Passengers coming from the Green Category countries are not required to hold a COVID-19 test certificate or self-isolate.

As of 1st April 2021, no restriction will be in place.

Orange Category countries - Countries with possibly low risk but greater uncertainty compared to the Green Category

  • European Union Member States: 1) Portugal
  • Third Countries: 1) China (including Hong Kong and Macau), 2) South Korea, 3) Thailand

Passengers coming from Orange Category countries shall be required to undergo a PCR laboratory test within 72 hours prior to departure and to possess a certificate showing a negative PCR result. 

It is also clarified that passengers from Orange Category countries, falling into the following categories, may undergo the molecular examination upon arrival in the Republic:

  1. Cypriot citizens and family members (alien spouses and their underage children),
  2. Persons legally residing in the Republic,
  3. Persons entitled to enter the Republic under the Vienna Convention,
  4. Persons, irrespective of nationality, whose countries of residence (Orange category) do not provide a laboratory testing service, upon substantiation and following an announcement by the Ministry of Health of the Republic of Cyprus.

The examination cost will be borne by themselves and in addition, such persons shall remain in self-isolation until the test result is issued.

Red Category countries – Increased risk countries compared to the Green and Orange Categories:

  • European Union Member States: 1) Austria, 2) Belgium, 3) Bulgaria, 4) France, 5) Croatia, 6) Luxembourg, 7) Romania, 8) Spain, 9) Italy, 10) Greece, 11) Malta, 12) Netherlands, 13) Hungary, 14) Poland, 15) Finland, 16) Slovakia, 17) Slovenia, 18) Czech Republic, 19) Estonia, 20) Latvia, 21) Lithuania, 22) Sweden, 23) Germany, 24) Denmark, 25) Ireland
  • Small states: 1) Andorra, 2) Monaco, 3) Vatican City, 4) San Marino
  • Schengen member states: 1) Switzerland, 2) Liechtenstein, 3) Norway
  • Third countries: 1) United Kingdom, 2) Israel, 3) Russia, 4) United Arab Emirates, 5) Ukraine, 6) Jordan, 7) Lebanon, 8) Egypt, 9) Belarus, 10) Qatar, 11) Serbia, 12) United States of America, 13) Armenia, 14) Georgia, 15) Bahrein, 16) Rwanda

It is noted that passengers coming from Red Category countries shall be required to: a) undergo a PCR laboratory test within 72 hours prior to departure proving a negative PCR result and 

  1. b) undergo a laboratory test upon their arrival in the Republic of Cyprus.

The examination cost will be borne by themselves and in addition, such persons should remain in self-isolation until the test result is issued.

The following categories of passengers may enter the Republic of Cyprus from Red Category countries, after having undergone, at their own expense, a laboratory test only upon their arrival in the Republic of Cyprus:

  1. Cypriot citizens and family members (alien spouses and their underage children),
  2. Persons legally residing in the Republic,
  3. Persons entitled to enter the Republic under the Vienna Convention.

In such case, persons falling within the categories 1-3 above must remain in mandatory self-isolation for 72 hours upon arrival and after the end of the 72-hour period they must undergo another PCR test, at their own expense. If the repeat test is negative, they can then terminate their isolation. The test result must be sent to the following email address:  monada@mphs.moh.gov.cy.

Grey Category countries (Special Permission):

Countries that are not mentioned in the aforementioned categories (green, orange and red) are considered to belong in the Grey Category (Special Permission). For the Grey Category countries, entry into the Republic of Cyprus is only allowed for the following categories of passengers:

  1. Cypriot citizens and family members (alien spouses and their underage children),
  2. European citizens and citizens of European Economic Area countries (Iceland, Liechtenstein, Norway) and Switzerland,
  3. Persons legally residing in the Republic,
  4. Persons entitled to enter the Republic under the Vienna Convention,
  5. Third country nationals who are allowed to enter the Republic of Cyprus following a special permission from the Republic, as this is defined in the Quarantine Decree (N.9) of 2021, as this is modified each time.

Passengers coming from countries of this Category shall be required to undergo a laboratory test at a certified lab within 72 hours prior to departure and to possess a certificate showing a negative PCR result. Excluding category number 2 above, the rest of the passengers may undergo the laboratory test upon their arrival in the Republic of Cyprus at their own expense.

Passengers arriving in the Republic of Cyprus from the Grey Category countries (Special Permission) shall remain in mandatory self-isolation or mandatory quarantine for a period of 14 days or alternatively, in mandatory self-isolation or mandatory quarantine for a period of 10 days provided that they undergo another Covid-19 test (at their own expense) on the 10th day and the result comes back negative. The test result must be sent to the following email address: monada@mphs.moh.gov.cy.

*It is highlighted that all passengers, regardless of country category, shall be obliged to submit an application for the CyprusFlightPass within 24 hours prior to their departure flight.

*In order to ensure public health and the monitoring of the epidemiological situation, a sample molecular laboratory testing of passengers on selected arriving flights will be carried out.

***The above categorization of countries, based on the epidemiological risk assessment, is extremely dynamic and may be modified at any moment as the pandemic evolves and the epidemiological data changes. For this reason, new data would be announced, and the list of countries updated frequently.


COVID-19 - Epidemiological risk assessment of countries concerning as of 18th of March

As of 18th of March the following applies:

Green Category countries – Low risk countries at current stage

  • Schengen member states:  1) Iceland
  • Third countries: 1) Australia, 2) New Zealand, 3) Singapore, 4) Saudi Arabia

Passengers coming from the Green Category countries are not required to hold a COVID-19 test certificate or self-isolate.

During the period of 1-31 March 2021, all passengers from the Green Category will undergo a PCR laboratory test upon their arrival in Cyprus, the cost of which will be covered by the Republic of Cyprus.

As of 1 April 2021, no restriction will be in place.

Orange Category countries - Countries with possibly low risk but greater uncertainty compared to the Green Category

  • European Union Member States: 1) Denmark, 2) Portugal
  • Schengen member states: 1) Norway
  • Third Countries: 1) China (including Hong Kong and Macau), 2) South Korea, 3) Thailand.

Passengers coming from the Orange Category countries shall be required to undergo a PCR laboratory test within 72 hours prior to departure and to possess a certificate showing a negative PCR result. 

Passengers from the Orange Category countries, falling into the following categories, may undergo the PCR examination upon arrival in the Republic:

  1. Cypriot citizens and family members (alien spouses, underage children and parents thereof),
  2. Persons legally residing in the Republic,
  3. Persons entitled to enter the Republic under the Vienna Convention,
  4. Persons, irrespective of nationality, whose countries of residence (Orange category) do not provide a laboratory testing service, upon substantiation and following an announcement by the Ministry of Health of the Republic of Cyprus.

The examination cost will be borne by themselves and in addition, such persons shall remain in self-isolation until the test result is issued.

Red Category countries – Increased risk countries compared to the Green and Orange Categories:

  • European Union Member States: 1) Austria, 2) Belgium, 3) Bulgaria, 4) France, 5) Ireland, 6) Croatia, 7) Luxemburg, 8) Romania, 9) Spain, 10) Italy, 11) Malta, 12) Netherlands, 13) Hungary, 14) Poland, 15) Finland, 16) Slovakia, 17) Slovenia, 18) Czech Republic, 19) Estonia, 20) Latvia, 21) Lithuania, 22) Sweden, 23) Germany, 24) Greece
  • Small states: 1) Andorra, 2) Monaco, 3) Vatican City, 4) San Marino
  • Schengen member states: 1) Switzerland, 2) Liechtenstein

Passengers coming from Red Category countries shall be required to:

  1. a) undergo a PCR laboratory test within 72 hours prior to departure proving a negative PCR result and
  2. b) undergo a laboratory test upon their arrival in the Republic of Cyprus.

The examination cost will be borne by themselves and in addition, such persons should remain in self-isolation until the test result is issued.

The following categories of passengers may enter the Republic of Cyprus from Red Category countries, after having undergone, at their own expense, a laboratory test only upon their arrival in the Republic of Cyprus:

  1. Cypriot citizens and family members (alien spouses, underage children, and parents thereof),
  2. Persons legally residing in the Republic,
  3. Persons entitled to enter the Republic under the Vienna Convention.

In such case, persons falling within the categories 1-3 above must remain in mandatory self-isolation for 72 hours since arrival and after the end of the 72 hours, they must undergo another PCR test, at their own expense. If the repeat test is negative, they can then terminate their isolation. The test result must be sent to the following email address:  monada@mphs.moh.gov.cy.

Grey Category countries (Special Permission):

  • Third countries: 1) United Kingdom, 2) Israel, 3) Russia, 4) United Arab Emirates, 5) Ukraine, 6) Jordan, 7) Lebanon, 8) Egypt, 9) Belarus, 10) Rwanda

For the Grey Category (Special Permission) countries, entry into the Republic of Cyprus is only allowed for the following categories of passengers:

  1. Cypriot citizens and family members (alien spouses, underage children and parents thereof),
  2. European citizens and citizens of European Economic Area countries (Iceland, Liechtenstein, Norway) and Switzerland,
  3. Persons legally residing in the Republic,
  4. Persons entitled to enter the Republic under the Vienna Convention,
  5. Third country nationals who are allowed to enter the Republic of Cyprus after a special permission from the Republic, as this is defined in the Quarantine Decree (N.9) of 2021 (in Greek), as this is modified each time.

It is noted that passengers coming from countries of this Category shall be required to undergo a laboratory test at a certified lab within 72 hours prior to departure and to possess a certificate showing a negative PCR result. Excluding category number 2 above, the rest of the passengers may undergo the laboratory test upon their arrival in the Republic of Cyprus,at their own expense.

Passengers arriving in the Republic of Cyprus from the Grey Category countries (Special Permission) shall remain in mandatory self-isolation or mandatory quarantine for a period of 14 days or alternatively, in mandatory self-isolation or mandatory quarantine for a period of 10 days provided that they undergo another Covid-19 test (at their own expense) on the 10th day and the result comes back negative. The test result must be sent to the following email address: monada@mphs.moh.gov.cy.

Following the Quarantine Decree (No. 9) of the 26th of February 2021, until 31 March 2021 on 23.59 pm, persons arriving from the United Kingdom shall undergo a laboratory test upon their arrival at Larnaka and Pafos Airports and shall be transported, at the state’s expense, to hotels of the Republic for mandatory 7-day isolation. On the 7th day upon arrival, they shall undergo another laboratory test (at the Republic’s expense) and in case of a negative result, they shall remain in self-isolation for another 3 days (total days in mandatory isolation: 10 days).

It is underlined that all passengers, regardless of country category, shall be obliged to submit an application for the CyprusFlightPass within 24 hours prior to their departure flight. In order to ensure public health and the monitoring of the epidemiological situation, a sample molecular laboratory testing of passengers on selected arriving flights will take place.


Resumption of flights and re-opening of Cypriot airports with additional security measures

The Ministry of Transport, Communications and Works announced that the Council of Ministers has made the following modifications for the gradual resumption of flights and the re-opening of airports in Cyprus.

The amendments will be implemented as of 1st March 2021.

The amendments are as follows:

  1. For the European Union countries and the European Economic Area countries (Iceland, Liechtenstein, Norway) including Switzerland, there is no amendment. That is, from the 1stof March 2021, the categorization of countries of the European Centre for Disease Prevention and Control (ECDC) will be followed, which will be classified in green, orange or red
  2. For March, the evaluation of third countries (United Kingdom, Russia, Ukraine, Israel, Lebanon, UAE, Jordan, Saudi Arabia, Egypt, Belarus) and the evaluation of third countries included in the European Council Recommendation’s list, will be carried out by the Ministry of Health. These countries will be classified as green, orange, red and grey. Any passenger from a country that will be classified asgrey will need a special permit and a laboratory PCR test within 72 hours prior to his/her departure from the origin country. In this category (grey), self-isolation/quarantine measures shall apply, in accordance with the relevant instructions of the Ministry of Health.
  3. From 1st to 31st March 2021, people arriving from any of the above countries, which have been classified in the green category, will undergo a PCR laboratory test, the cost of which will be covered by the Republic of Cyprus.
  4. For March, all passengers, regardless of category, arriving in Cyprus should have undergone a PCR laboratory test.
  5. From 1st April 2021, third countries will be evaluated and classified according to the green, orange or red categories, based on the ECDC criteria. In the third countries’ category, in addition to the United Kingdom, Russia, Ukraine, Israel, Lebanon, the United Arab Emirates, Jordan, Saudi Arabia, Egypt and Belarus, the following countries shall be added, as of 1 April 2021: Serbia, Qatar, Bahrain, United States, Armenia and Georgia.
  6. Countries that are not included in the above list, will be classified in the special permit category –Category Grey.
  7. The Ministry of Health will announce, on a weekly basis, the categorization of countries.
  8. The Council of Ministers decided to extend until 31stMarch 2021, the measure of 7-day stay in places to be designated by the Republic of Cyprus for those arriving from the United Kingdom, in accordance with the preconditions already in force.
  9. It is recalled that the following applies to each category:
  • CategoryGreen: All passengers, upon arrival in Cyprus from the 1st to the 31st of March 2021, will undergo a laboratory PCR test, the cost of which will be covered by the Republic of Cyprus. From 1st April 2021, there will be no restrictions (a practice that is already in force).
  • CategoryOrange: All passengers will have to present a negative laboratory analysis of PCR test within 72 hours prior to departure.
  • Category Red: For all passengers, a double laboratory testing will be required. Specifically, a negative laboratory PCR test within 72 hours prior to departure and another laboratory PCR test upon arrival in Cyprus. In this category, no self-isolation/quarantine measures apply. It should be noted that Cypriot citizens and legal residents of the Republic can choose to undergo a laboratory testing only upon arrival in Cyprus. In this case, they should remain in compulsory self-isolation, in accordance with the relevant instructions of the Ministry of Health, unless they present an additional negative PCR laboratory test within 72 hours prior to departure.
  • CategoryGrey – special permit: In this particular category, the procedure for obtaining a special entry permit into the Republic, shall be implemented for citizens of third countries (exempt from the requirement of a special permit are Cypriot citizens, persons lawfully residing in the Republic of Cyprus and European citizens). People arriving in the Republic shall remain in compulsory self-isolation, in accordance with the relevant instructions of the Ministry of Health.

*** In all the above categories, laboratory sampling tests will be carried out in accordance with the instructions of the Ministry of Health.


Employment in Cyprus

Employment in Cyprus - Extension of the income tax exemption of €8,550 or 20% (whichever is lower) with respect to Article 8 (21)

On 15 December 2020, the Gazette amended the law with respect to Article 8 (21) of the Income Tax Legislation. This amendment aims to attract employees from abroad and to expand the current framework.

Article 8(21) allows a five-year exception from income tax of the lower of:

  • EUR 8.550
  • 20% of the remuneration arising from employment in Cyprus

for people that were not tax residents in Cyprus prior to the year of the beginning of their employment. The five-year exception starts in the year that follows the beginning of their employment in Cyprus. Before the amendment of the law, the last year for this exception was 2020.

The new amendment extends the exception up to employment that begins in 2025, while the duration of the exception an individual can receive remains the same; that is, five-years.

To illustrate, an individual who commences employment in Cyprus in 2025 will be eligible to claim the relevant tax exception for 2026-to-2030.

 


Governmental On-Going Economic Help for Covid-19 New Measures

The Ministry of Labour, Welfare and Social Security, announces Special Schemes regarding financial support new measures for the second wave of Covid-19 pandemic. The Special Schemes can be found here: https://www.pio.gov.cy/ανακοινωθέντα-άρθρο.html?id=16660#flat (Greek only).

 


Updates for outstanding VAT payments for returns that were suspended until 10 November 2020

The House of Parliament, on October 30, 2020, passed an amendment to the VAT Act. The amendment extends the payment for the outstanding amounts arising from the VAT returns that payments were suspended until 10 November 2020.

The repayment of the amounts due can be made in six (6) equal installments from November 10, 2020 to April 10, 2021 without the imposition of additional charges and interest on these amounts. The exemption from the imposition of additional charges and interest applies to all cases of VAT returns for which the payment was suspended until November 10, 2020, whether it concerned a quarterly or monthly VAT return. VAT returns for which there was no right to suspend payments until 10 November 2020 are not included in the current amendment and are subject to additional charges and/or interest.

Thus, based on the new amendment, the VAT amount due should be paid in six (6) equal installments, and the corresponding amount should be paid on the 10th of each month starting from November 10, 2020 (i.e. on 10/11/2020, 10/12/2020, 10/1/2021, 10/2/2021, 10/3/2021 and 10/4/2021).

There is also the possibility to pay the VAT amount due, in fewer, continuous, monthly installments starting from November 10, 2020.  *For any questions, clarifications or if you would like to further discuss the possible impact of the Circular on your business, please contact us.