The General Department of Taxation has announced an Instruction on procedures for small and medium-sized enterprises receiving tax incentives for the development of the informal economy.

The General Department of Taxation of the Ministry of Economy and Finance. In order to, help businesses grow and support the development of the informal economy, it has introduced special tax incentives for small and medium-sized businesses. To make it easier and faster for SMEs to file taxes, a new function called “Tax Incentives for Informal Economy” has been added to the GDT’s online systems and apps. This allows businesses to file both monthly and annual tax returns online more conveniently.

Small enterprises can file their tax returns more efficiently by following the proper procedure, which includes using the GDT Tax Prefiling App available for smartphones to easily declare monthly and annual taxes, input business revenue and expenses, and securely submit tax information to the General Department of Taxation.

To file monthly or annual tax returns, businesses must log into the GDT app or website, register if needed, and enter their business and tax information such as purchases, sales, and payroll. For monthly returns, use the “Monthly Tax Declaration” section to declare and either pay online or request a state burden receipt if exempt. For annual returns, use the “Annual Income Tax Declaration” in the app or the “ToI e-Filing” system on the GDT website (required for medium-sized enterprises) to submit complete tax details with documents, then declare and request a receipt if the tax is state covered.

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