The last May 14th, 2020 , the Legislature approved by Legislative Decree No. 643 , the “TRANSITORY ACT TO FACILITATE VOLUNTARY COMPLIANCE WITH TAX OBLIGATIONS UNDER THE NATIONAL EMERGENCY CAUSED BY THE COVID-19 PANDEMIC”
The main tax benefits that it comprises bliss Law are as follows:
- Period is granted until June 30th, 2020 for all taxpayers to file their declaration of Income Tax, without causing interest, penalties or surcharges. Likewise, it allows the modification of the declaration when it has been presented before or after April 30th, 2020 and the possibility of requesting payment in installments is enabled even when this has not been previously required by the taxpayer.
- Deadline is extended until June 30th, 2020 to file the declaration and make the payment of the Special Contribution of Large Taxpayers for the Citizen Security Plan.
- For taxpayers classified as “medium” and “other taxpayers” that request a term for the payment of their tax obligations contemplated in this law, they can be granted with up to a maximum of seven monthly and successive installments, although the first payment must be made in June 2020, for an amount equal to 10% of the determined tax; In the case of large taxpayers, a maximum of four monthly and successive installments may be granted, although the first payment must be made in June 2020, for an amount of 30% of the determined tax.
- It exonerates “medium” and “other taxpayers” of payment of the advance on the income tax for tax periods of April, May and June 2020.
- It is extended until July 31st 2020 the deadline for the presentation of the Fiscal Audit, together with the tax report, the financial statements, the tax conciliations and supplementary information, corresponding to the annual period of the fiscal year 2019.
- It is extended until July 31st, 2020 the deadline for the appointment of the fiscal auditor for the financial year 2020.
- It is extended up to June 30th, 2020 the term for “medium” and “other taxpayers” to file the Balance Sheet at the end of the fiscal year 2019, the income statement, the tax conciliations or justifications of the items included in the statement, Statement of Income and Expenses.
- The celebration of General Meetings and Assemblies of all types of legal entities is authorized through videoconference.
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