In order to reduce the administrative burden, from 1 January 2021, the State budget payments administered by the SRS have a new account - the single tax account - which replaces the existing tax accounts.
In order to ensure that all declarations are submitted before the tax payment deadline, several of them have new deadlines for declaration – electricity tax, lotteries and gambling tax and submission of the employer's report.
In order to ensure that all taxes can be paid by placing only one bank payment order, starting from 1 January 2021, the deadlines for regular tax payments have been changed to the 23rd date.
The amount of money paid into the single account will be distributed to cover the taxpayer's liabilities by tax types, in accordance with the FIFO principle.
Concurrently with the single account, the accrual principle will be introduced in the state revenue accounting administered by the SRS, thus making the tax accounting the same in the accounting of both the State and taxpayers.
More information on the single tax account is available on the State Revenue Service website.