Extension of the deadline for payment of Social Insurance contributions

Extension of the deadline for payment of Social Insurance contributions

Based on the Administrative Decree (190/2020) published on 2 May 2020, the Ministry of Labour, Welfare and Social Insurance announces that the settlement of contributions to the Social Insurance Fund on the employees’ insurable emoluments for the month of March 2020, which were due for payment to the Social Insurance Department by 30 April 2020, can be made by 14 May 2020 (inclusive) without the imposition of any additional levy or charge.

In case the contributions on employees’ insurable earnings for the month of March 2020 are not settled by 14 May 2020, then these become overdue and the provisions of the relevant laws which provide for the imposition of additional levies and charges for overdue contributions apply as of 15 May 2020. 

As always, M. Target specialists remain at your disposal for any further information or clarifications.

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