As part of the COVID-19 financial assistance package, in March 2020, the Ministry for Finance and Employment launched the Tax Deferral Scheme to help companies and businesses mitigate liquidity difficulties
This measure was extended until December 2021, with the exception of taxes paid by the employer, under the FSS system.
The Commissioner for Revenue announces that the beneficiaries of this Tax Deferral Scheme will be given the possibility to pay the taxes that were eligible under this measure over a period of 30 months, until the end of December 2024. The first instalment will be paid in June 2022, with monthly payments. During this period, interest on deferred taxes shall be frozen.
In the event that the beneficiaries fail to do so by the end of December 2024, the benefit granted under the Tax Deferral Scheme may be forfeited, and interest shall again be due on the amount not paid as though the scheme did not apply.
During this period, businesses are also expected to pay taxes for the current periods.
In those cases where businesses have due balances pertaining to other periods that are not covered under the deferred taxes scheme, they must also be paid by December 2024, unless otherwise agreed with the Office of the Commissioner for Revenue.
Those individuals or business entities that have difficulty doing so are encouraged to come forward and speak to the Office of the Commissioner for Revenue.
Information meetings will also be held with all interested partners in order to better explain how this process will work.
For more information, please call 144 or send an email to