Companies and self-employed individuals in Luxembourg can defer certain tax payments to boost liquidity in the face of Covid-19.
The country is aiming to reduce further infections. It announced the relief Tuesday.
- The tax administration will automatically accept requests for payment delays or to cancel prepayments. It also extended the deadline for companies and self-employed individuals to submit their tax returns has been extended to June 30.
- Self-employed individuals can request the cancellation of their income and commercial municipal tax prepayments for the first two quarters of 2020.
- Individuals can also request a four-month tax payment delay for income tax, municipal taxes and wealth taxes due after Feb. 29 2019.
- The administration in charge of value-added tax will also reimburse all VAT credit balances below 10,000 euros ($10, 940).