Welcome back to the Regional Spotlight series from Neeyamo’s Compliance arena. In the last episode, we had delved into the recent compliance-specific updates from North America. In this episode, we have curated updates from different countries in the EMEA region. Let’s begin.
Relief is limited to tax penalties for late payment and to benefit from this penalty relief, taxpayers must pay their tax liability completely.
– The deadline for filing the individual income tax returns for 2019 was extended to March 31, 2021.
– The deadline for filing the individual income tax returns and corporate tax returns for 2020 is extended to June 30, 2021.
– The deadline for Luxembourg’s resident taxpayers to file Form 931 and elect to pay the 20% withholding tax on qualifying interest paid by foreign paying agents for 2020 is extended to June 30, 2021.
– The deadline for married couples and individuals in a partnership to elect for individual taxation for the tax year 2020 is extended to June 30, 2021.
– The country has declared an extension allowing businesses to apply for a deferral of payment of taxes until July 1, 2021.
– The country announces to actualize the digital services tax measures. New deadlines of March 16, 2021 for installment of the digital services tax for FY 2020, and April 30, 2021 for filing of the annual return for the digital services tax have been declared.
– From January 1, 2021 the national minimum wage has increased from $10.10 per hour to $ 10.20 per hour.
– The Employment Wage Subsidy Scheme (EWSS), which provided financial support to firms in sectors that have been affected by the pandemic, will run until March 31, 2021.
– Coronavirus Job Retention Scheme – While January 2021 claims had the deadline till February 15, 2021, February claims must be submitted no later than March 15, 2021.
– A Bill introduced last year seeks to amend the Employment Equality Act 1998 to require certain employers to publish gender pay data for their employers, establishing gender gap reporting which shall be amended in 2021.
– The city had announced a deadline for employers filing pay-as-you-earn (PAYE) tax returns till February 14, 2021.
With that we have reached the end of the Regional Spotlight series. We hope your compliance teams found the information useful and had a few sticky notes written. We are signing off for now until we come up with something that captivates you. Meanwhile, if you have any questions on this article or if you would like to know how organizations manage compliance across multiple countries of operations, get in touch with us.