The Minister of Finance Arvils Asheradens has instructed the Ministry of Finance, the State Revenue Service (SRS) to change the personal income tax (IIN) payment procedure for the self-employed, namely to refuse the advance payment.
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He said about this on the microblogging site “Twitter”: “Canceling the advance payment of VAT for the self-employed was a logical measure to reduce the economic consequences caused by the pandemic, which quickly proved its viability. I instructed @Finmin and @vid_gov to implement this as a permanent norm, speeding up the delayed action on the implementation of the regulation.”
Canceling the advance payment of VAT for the self-employed was a logical measure to mitigate the economic consequences of the pandemic, which quickly proved its viability. I asked @Finmin and @vid_gov to introduce this as a permanent norm, speeding up the delayed action in the implementation of the regulation.
— Arvil Aseradens (@aseradens) March 14, 2023
“Delfi Bizness” already announced that, after a two-year break, economic activity performers must again make an advance payment of VAT this year. It was canceled in 2021 and 2022 as one of the tax support measures during the Covid-19 crisis. This year, the first advance payment must be made by March 23. As before, this applies to those economic operators who pay personal income tax in the general procedure.
The advance payment does not apply to micro-enterprise tax payers, performers of notified economic activity and payers of reduced patent fees.