TAX RETURNS
In view of the exceptional situation caused by the global coronavirus pandemic (COVID-19), the Government continues to approve extraordinary measures to alleviate the economic effects suffered by companies, the self-employed and SMEs.
Specifically, on April 14, Royal Decree Law 14/2020 was published, which establishes an extension of the deadline for filing tax returns and self-assessments. The purpose of this measure is to alleviate the negative effects caused by the current healthcare crisis.
The extension of the deadline for coronavirus tax returns benefits taxpayers with transactions of less than 600,000 euros during the 2019 fiscal year. These taxpayers will not have to file their tax obligations on the usual dates in April. They will now have until May 20 to file the quarterly VAT return, the installment payment of Corporate Income Tax and Personal Income Tax withholdings.
However, this extension is not applicable to consolidated tax groups, whether VAT or Corporate. These tax groups must continue to file their returns on the dates previously established.
DOMICILIARY DECLARATIONS
On the other hand, for those returns filed by direct debit, the usual deadline of April 15 is also extended by one month, until May 15. Regardless of the day on which the tax return is filed, all charges to the bank account will be made on the same day, specifically on May 20. This includes even tax returns filed before the 15th.
This measure of Royal Decree Law 14/2020 on the extension of the coronavirus tax deadline is designed to make it easier for companies and self-employed individuals to manage their liquidity during these critical months, thus ensuring a better adaptation to the current economic situation generated by COVID-19.
Please review the attached document for more detailed information on how these regulations affect your tax obligations.