Greater flexibility in respect of statutory tax deadlines

    Covid -19 - Greater Flexibility in respect of statutory tax deadlines

    An amendment will introduce a discretionary power into the Tax Administration Act 1994 to allow IRD to provide an extension to due dates and time frames, or to modify procedural requirements set out in the Revenue Acts

    tax due date

    IRD will be given greater flexibility to modify time frames or procedural requirements for taxpayers who are impacted by COVID-19. 

    This could include, for example, extending deadlines for filing tax returns and paying provisional and terminal tax.

    At this stage, the power will be time-limited for a period of 18 months and will apply to businesses affected by COVID-19.

    We are waiting for IRD to publish further guidance on the details of this in the coming weeks. 

    ****************************************************************************************************************************

    Please note: The above E-newsletter notes and the related articles on our website are of a general nature and therefore we urge clients who may be affected by these changes to contact us to discuss your specific circumstances before making any changes or drawing any conclusions.

    If you do not wish to receive these E-newsletters please use the unsubscribe option below.

    Share by: