Because of the situation that our country is experiencing, The population is demanding economic measures from the Government that guarantee liquidity, in the form of unlimited publicly guaranteed loans in order to prevent the chain of bankruptcies. Nadia Calviño, third vice-president of the Government and Minister of Economic Affairs and Digital Transformation of Spain, at first commented that the Government was not going to rescue banks, but yesterday this situation changed and it was contemplated that public endorsement would be integrated into the package of measures.The European Central Bank (ECB) has expressed its commitment to providing as much liquidity as necessary in order to confirm that states will issue as much debt as is necessary. The governors of several central banks of the euro support this decision. This will prevent the economy from collapsing and with it massive layoffs, unpaid debts, and other consequences.Therefore, since Intelectium we want to highlight the current message of the ECB and emphasize it, The priority is to spend what is necessary to avoid an economic problem devastating, and likewise, a social revolt.SMES AND THE SELF-EMPLOYEDSMEs and the self-employed will be able to postpone the payment of taxes for six months with an amount of up to 30,000 euros, with a three-month grace period.
“Thus, it seeks to mitigate the possible impact that the reinforced containment scenario may have on the most vulnerable sectors of the economy, that is, SMEs and the self-employed”, Decree-Law, Official State Gazette.
In addition, other concepts such as VAT quotas, corporate account income and fractional payments, personal income tax withholding, among others, are also extended. These extendable concepts will not be accessible to all companies, one of the requirements will be the volume of transactions, not exceeding 6,010,121.04 euros in 2019.
“The deadlines in tax procedures are going to be extended by an imminent regulatory change. Don't worry if you have a pending procedure. As long as the regulatory change is approved, the Agency is aware of the situation and will not consider the deadline missed” notice published on the Tax Agency's website.
