The law today published in the Diário da República, which has yet to be regulated by the Government, comes into force on the day following its publication and is in force until the end of the year when exceptional and temporary measures to respond to the SARS- epidemic cease. CoV-2 and covid-19 disease.
The statute establishes the temporary suspension of payment on account of corporate income tax (IRC) for entities classified as micro, small or medium-sized enterprises (SMEs) and cooperatives, the possibility of reimbursement of part of the special payment on account that does not has been deducted and a maximum period for effecting the refund of value added tax (VAT), IRC and personal income tax (IRS) when the result of withholding payments on account or settlements is higher than the tax due.
“When the amount of withholding tax, payments on account or VAT assessments is greater than the tax due, the refund is made within 15 days after the taxpayer has submitted the respective declaration”, with regard to VAT, IRC, IRS taxes are read in the document.
These measures to support micro, small and medium-sized enterprises (SMEs) stem from a PCP bill approved by opposition parties, in a final global vote in late June.
VP (NS / SMA) // JNM
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