On November 30, 2020, the Journal of Laws published an amendment to the Corporate Income Tax ("CIT") Act, which means that at the beginning of the new year the regulations governing the lump sum on the income of companies, the so-called Estonian CIT, will come into force.
In the Journal of Laws, a regulation of the Minister of Finance, Development Funds and Regional Policy was published on the extension of deadlines for the advance payments of income tax and lump-sum income tax by some payers. These regulations are to be a form of support for businesses on account of the COVID-19 epidemic as well as the restrictions on the performance of certain types of business activities. The extension of the deadlines is to counteract the negative economic consequences for businesses paying personal income tax.
On 30 November 2020, the Act of 28 November 2020 amending the Personal Income Tax Act, the Corporate Income Tax Act, the Lump Sum Income Tax Act on Certain Incomes Earned by Natural Persons and Certain Other Acts was published in the Journal of Laws No. 2123.