Last 14th March saw the publication of urgent tax measures to tackle the economic impact of COVID-19 in the Official State Gazette (link).
Specifically, the possibility of deferring tax payments has been granted to taxpayers (person or entity) whose turnover was under EUR 6.010.121,05 in 2019.
This deferral will be applicable to withholdings tax, prepayments, output tax, and Corporate Income Tax instalment payments.
Tax liabilities of up to EUR 30.000 can be deferred, with no need for any form of guarantee.
The deferral period will be six months and it will not accrue interest for late payment (3,75%) during the first three months.
This measure applies to all returns/settlements and self-assessments with a filing and payment deadline between 13 March 2020 and 30 May 2020, inclusive.
The Tax Agency has provided provisional instructions on how to request a deferral (link).
In addition, the administrative deadlines are suspended. The suspension of terms and the interruption of deadlines will apply to the entire public sector as defined in Law 39/2015 of 1 October on the Common Administrative Procedure for Public Administrations.
Likewise, the periods of prescription and expiry of any actions and rights are suspended during the period of validity of the state of alarm and, where appropriate, of any extensions adopted.
From Bové Montero y Asociados we will continue to keep you informed of any news about the COVID-19 that affects your company. In these difficult times for everyone, our team continues working and is at your disposal to support you in everything you need.
Link to the notice on the Tax Agency’s website.