25 March - deadline for filing income tax declaration for 2020

Chisinau, 1 March /MOLDPRES/- The State Tax Service (SFS) reminded that, according to the Fiscal Code, taxpayers - legal entities and private people who practice entrepreneurial activity, taxpayers who carry out professional activity and self-employed are required to submit Declaration on income tax for 2020 by 25 March 2021.

Those taxpayers will submit the Declaration / Report on income tax to the State Tax Service electronically according to the provisions set by the Fiscal Code or on paper.

According to the institution, starting with the fiscal period 2020, in Chapter 71 of Title II of the Fiscal Code, changes were made in the part related to the determination of taxable income for economic agents - subjects of the small and medium enterprises (SMEs) sector. Through the amendments operated by Law No171/2019, the tax base was extended.

Thus, the object of taxation is the income determined according to the financial accounting, obtained in the fiscal period of declaration, except for: income from subsidies; income from material damage recovery; income from the settlement of overdue debts to interdependent persons; dividend income and so on.

Also, starting with the fiscal period 2020, the economic agents of the SME sector are to declare their fiscal obligations on income tax through the Report on the income tax of the subject economic agents of the small and medium enterprises sector - SIMM20 form, approved by the Finance Ministry's order, starting with the declaration period 2020. The deadline for payment of income tax in installments is no later than 25 March, 25 June, 25 September and 25 December of the fiscal year.

Agricultural enterprises, peasant (farmer) households have the right to pay the tax in two stages: a quarter of the amount - until September 25 and three quarters of this amount - until December 25 of the fiscal year.

Economic agents subject of small and medium enterprises sector, persons carrying out professional activity in justice and health sector and self-employed individuals pay income tax to the budget in installments, quarterly by 25th of the month following the corresponding quarter.

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