The period during which affected entrepreneurs can apply for a deferment of tax payments has been extended until the end of September 2020. Any default penalties for late payment do not have to be paid. The rates of tax interest and late payment interest have been reduced to 0.01% until 1 October 2020 for all types of tax.
In addition, the other tax measures introduced, namely the relaxation of the hour criterion for selfemployed persons, the mortgage payment holiday, the VAT exemption for medical aids and the VAT exemption for the loaning out of healthcare personnel, are being extended until 1 October 2020.
Entrepreneurs will be immediately granted a three-month deferment of payments on submission of their first application. An application only needs to be submitted once for this three-month period.
Entrepreneurs who apply for a deferment of more than three months may not pay out any dividends or bonuses or buy back their own shares.
A deferment granted for more than three months will last until the deferment is withdrawn, which will not be before 1 October 2020. Upon expiry of the deferment entrepreneurs will be offered an appropriate payment arrangement. What this payment arrangement will involve is not yet clear.