Installments established to pay Corporate Income Tax
Cash donations made to hospital centers until December 31, 2020 will be deductible for the CIT
VAT paid will not be included in the tax base of the Transaction Tax
Process deadlines are suspended
Postponement of federal taxes which are due for small companies that opt for a simplified tax scheme.
Postponement of administrative actions (by tax authorities) related to delayed in the payment of debts by taxpayers.
Partial exemption for import of products necessary to combat COVID-19.
Suspension of the payment of pensions for three months (March, April and May). The amount due will be paid by employers in up to 6 installments as from July 2020 onward.
In these uncertain times, it is essential to remain agile and proactive as the COVID-19 situation unfolds. Having timely access to financial experts, insights and news as quickly as possible is critical—and that’s where we can help.
We have established a dedicated COVID-19 Resource Hub, highlighting areas of business operations that will likely be impacted by coronavirus. Whether you need to discuss your current financial situation and learn what options are available to you, or you want to be guided through the appropriate cash flow management strategies for your business, our team of experts are ready to help you at every step of the way. Please do not hesitate to reach out to your Crowe Soberman professionals for support during these challenging times.
We are in this together.
This article has been prepared for the general information of our clients. Specific professional advice should be obtained prior to the implementation of any suggestion contained in this article. Please note that this publication should not be considered a substitute for personalized tax advice related to your particular situation.