CIT tax returns and Financial Statements for 2021

The Ministry of Finance has signed a regulation extending the deadlines for submitting CIT returns and tax payments, as well as for financial statements for 2021.

The deadlines for submitting the 2021 CIT return and for CIT payment have been extended until 30 June 2022 for taxpayers whose tax year ended in the period from 1 December 2021 to 28 February 2022.

The deadlines for the preparation  and submission of financial statements, including consolidated statements, was also extended – by three months in case of private sector companies (except companies that are under the supervision of the Financial Supervision Commission).

Reporting of shareholders of real estate SPVs

The Ministry of Finance has published a draft regulation postponing the deadline for reporting information on the reporting of shareholders of real estate SPVs until the end of September 2022. Real estate companies as well as their shareholders are obliged to submit so-called information on the shareholders of real estate SPVs on 31 March 2022 (for the tax year ending on 31 December 2021). In practice, the reporting obligation raises concerns as to its scope: who should report and whom, as well as how should the report be submitted. The law requires that the real estate company should report on its direct and indirect shareholders, but also that direct and indirect shareholders should report themselves. This may effectively lead to a significant administrative burden at the group level.