New fiscal measures to mitigate the effects of the covid-19 pandemic on micro, small and medium-sized enterprises (SMEs), such as the temporary suspension of payment on behalf of the IRC, were published today to take effect Saturday.
The law now published in Diário da República, and which has yet to be regulated by the Government, enters into force on the day following its publication and is in force until the end of the year in which the exceptional and temporary measures to respond to the SARS epidemic cease. CoV-2 and Covid-19 disease.
The diploma establishes the temporary suspension of payment on account of corporate income tax (IRC) for entities classified as micro, small or medium enterprises (SME) and cooperatives, the possibility of reimbursement of the part of the special payment on account that does not was deducted and a maximum period for the reimbursement of value added tax (IVA), IRC and personal income tax (IRS) when the result of the withholding of payments on account or liquidations is higher than the tax due.
"When the amount of withholding tax, payments on account or VAT settlements exceeds the tax due, the refund is made within 15 days after the delivery of the respective declaration by the taxable person", with regard to to VAT, IRC, IRS taxes, it is read in the document.
These measures to support micro, small and medium-sized enterprises (SMEs) stem from a PCP bill approved by the opposition parties, in a final global vote at the end of June.
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