PENALTIES DURING QUARANTINE!
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Tax authorities have issued positive tax advice to those taxpayers who had to file a clarifying declaration in 2021 to clarify the 2020 figures, when there is a 'quarantine' moratorium on fines and penalties for tax offenses.
The situation was that in February 2021 the LLC filed a clarifying income tax return for the first half of 2020 and a return on income tax for 2020 with the addition of VP for 9 months of 2020, in which accrued penalties sanctions for understated tax liability.
It will be recalled that if in future tax periods the taxpayer independently detects errors in his previously submitted tax return, then he must send an adjustment calculation in the form valid at the time of submission of the adjustment calculation (paragraph 50.1 TCU).
When the taxpayer independently discovers the fact of understatement of the tax liability of previous tax periods, then it is necessary:
(a) either send an adjustment calculation and pay the amount of arrears and a penalty of 3% of such amount before submitting such an adjustment calculation;
b) or reflect the amount of arrears in the declaration of this tax, which is filed for the tax period following the period in which the understatement of the tax liability, increased by a fine of 5% of such amount, with the appropriate increase in the total amount of monetary liability from this tax.
In case of self-correction of errors, increase (decrease) of tax liability is reflected in lines 26, 27, 31 of the income tax return. Thus in the clarifying declaration or the appendix of VP to the reporting declaration, depending on the chosen way of correction of errors, show correct indicators, and in lines of increase (decrease) of tax liability of the reporting (tax) period of the declaration - the sum of an error with the corresponding sign. lines 26, 27, 31 of the declaration. The declaration does not provide for the correction of fines and penalties.
However, during the period of counteraction to COVID-19 and until the last calendar day of the month (inclusive) in which the quarantine will be completed, the penalties provided for in paragraph 50.1 of the TCU and the penalty are not applied. This also applies to fines for self-corrected errors in the income tax return.
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