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Tax Administration Announcement — Corporate Income Tax Return for 2020

By 31 March 2021, 24,869 corporate income tax returns and 26,126 financial statements for 2020 were recorded — growth compared to the previous year despite the pandemic.

FP Finance Plus 5 April 2021

Tax Administration announcement — by 31 March 2021, 24,869 corporate income tax returns and 26,126 financial statements for 2020 had been recorded.

Date of publication: 01/04/2021 — Source: Tax Administration

Growth compared to the previous year

Within the legally prescribed deadline of 31 March 2021, 24,869 taxpayers filed a corporate income tax return for 2020.

Comparison with the previous year:

  • 2020 (extended deadline of 15 days): 24,321 taxpayers
  • 2021 (regular deadline): 24,869 taxpayers
  • Difference: +548 taxpayers

In addition to corporate income tax returns, 26,126 financial statements for 2020 were also recorded in the Tax Administration system within the legal deadline — 216 more than within the extended deadline of 15 April 2020.

Collection — growth of more than EUR 2 million

Corporate income tax collection in the first quarter of 2021 amounted to EUR 44,409,195.08 — more than EUR 2 million above the 2020 result.

High tax discipline despite the pandemic

The growth in the number of tax returns and financial statements — as well as in tax collection — is an indicator of a high level of tax discipline among taxpayers who, despite the conditions of the COVID-19 pandemic and economic crisis, largely comply with tax regulations.

It is also confirmation of the efforts of tax officials to ensure:

  • Full functionality of the information system
  • Services for electronic submission of returns
  • The necessary technical and legal support to taxpayers

Expansion of the tax base

The year-on-year growth in the number of recorded returns points to a continuous expansion of the tax base. The Tax Administration expects that — through gradual improvement of the epidemiological situation and the recovery of the economy, as well as two-way communication between the state and the economy — the fiscal potential of the corporate sector will be valorised as much as possible.

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