The New Shield expands the catalogue of tax-deductible donations to include donations made from January 1, 2020 to September 30, 2020 to homes for mothers with minor children and pregnant women, night shelters, shelters for the homeless, including care services, support centres, family help homes and social welfare homes referred to in the Act on Social Assistance. Additionally, certain types of donations made to PBO can be deducted from the tax base. Computers and tablets transferred from January 1, 2020 to September 30, 2020 to educational establishments may also be deducted from the tax base.
The new shield exempts from taxation the tax on revenues from buildings established for the period from March 3, 2020 to December 31, 2020.
The relief for bad debts is available already after 30 days from the date of expiry of the payment deadline specified in the invoice (bill) or contract.
In addition, the interest rate subsidies on bank loans granted to entities in financial difficulty in connection with COVID referred to in Shield 4.0 do not constitute income for the purposes of income taxes.