Special Transitory Law to facilitate the filing and payment of income tax.
The Legislative Assembly, in session of April 30, 2020, approved the Special Transitory Law to facilitate the filing and payment of income tax, paymen on account of Income Tax and other formal obligations, in the framework of the emergency by COVID-19.
This law seeks to reduce the economic consequences and minimize the negative impact on the national market, so that taxpayers, including natural persons not registered as taxpayers of VAT, are supported.
The measure extends the term for the filing of the Income Tax declaration for medium, large and other taxpayers until June 30, enabling payment in up to 7 installments depending on the taxpayer category. The payment on account for the months of April, May and June is also exempted, and the fulfillment of formal obligations, such as the appointment of a fiscal auditor, the presentation of financial statements, among others, is extended for 2 months.
The Decree will be in force on the day of its publication in the Official Gazette.
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