Gov’t extends deadline by 3 months for financial filings

The Ministry of Finance, meeting the demands of entrepreneurs and accountants, extends the deadline for preparing financial statements for 2020. Thus, it takes into account the difficult and dynamic situation related to COVID-19.

The ministry informs that it has been decided to extend the deadlines for the preparation of financial statements for private sector entities and non-profit organizations – by 3 months, and for the public finance sector – by one month. The regulation in this matter is at the final stage of the legislative process.

According to an expert from Ars Aequi, any changes should be implemented in advance. Modifying the regulations rapidly introduces some chaos. Last year the extension of the deadline for the preparation of reports was introduced at the last possible moment and thus many entrepreneurs did not use the support. It was illusory for them.

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