ECONOMY

Professionals can only apply for tax discount after VAT payment

professionals-can-only-apply-for-tax-discount-after-vat-payment

The discount of 25 percent for professionals’ future tax obligations will only be activated after the payment of their value-added tax dues for the first quarter of the year by April 30.

The self-employed, freelancers and corporations will be able to apply by email to the tax authorities for the reduction of their tax dues after May 1, but in case their is no online submission the offsetting of dues will be implemented by the competent tax office.

According to a circular issued by the Independent Authority for Public Revenue, the application could refer to past as well as future tax dues.