Tax Authority pushes deadline for VAT back-taxes to release assets from seizure to September

The Tax Authority has pushed to September its deadline for companies to unlock assets by remitting overdue VAT, according to a Tax Authority statement. The deadline was originally this month. Frozen assets will automatically be released by the authority, bypassing the requirement for an official appeal, after 5% of total VAT owed is paid and the remainder is scheduled for payment within a two year period.