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Tax support measures COVID-19

From December 2019 to date, the entire world has been affected by the COVID-19 or Coronavirus. This has affected and will continue to affect millions of workers and their families, mainly through significant reduction of their sources of income or loss of employment; as well as businesses.

 

For this reason, the Ministry of Finance issued a series of benefits that we will now summarize:

  • Extension of the deadline for payment of VAT for April, May and June 2020:
    • Empresas Pro Pyme, is extended until July 2020, in 12 monthly installments, equal and readjusted. 
    • Taxpayers with income above the Prome limit, but whose annual income does not exceed 350,000 UF, is extended to July 2020 in 6 monthly installments, equal and readjusted. 
  • Deadline for the payment of the 1 installment of the Contributions:
    • It will be paid in 3 equal and adjusted installments, in the payment terms of the 2nd, 3rd and 4th installments of the year 2020.
    • Apply for:
      • Global Complementary Tax and 2 Category Taxpayers owning real estate with individual appraisal not exceeding $ 133 million as of March 2020;
      • Taxpayers of 1 Category with annual income not exceeding 350,000 UF (related companies are considered in the calculation)
  • PPM payment waiver, for the months of April, May and June 2020.
  • Tax refunds are advanced for the month of April to individuals and taxpayers of the Pro-Sme Regime.  
  • Extension for the payment of taxes of 1 Category of Pro-SME companies.  
  • Taxation schemes will be available until 31 July 2020.  
  • Cancellation and return for the month of April independent professionals, implemented in January and February 2020.
  • Facilities for the payment and remission of criminal interest and fines for the payment of taxes or fees accrued in the months of April, May and June 2020:

Applies to taxpayers of Global Complementary or Second Category Taxes, whose annual income does not exceed 90 ATUs; and for 1 Category taxpayers whose annual income does not exceed 350,000 UF.

  • Cancellation, in whole or in part, of criminal interest and fines for late declarations and interest on the payment of Contributions up to 30 September 2020.