Peru – COVID-19 Tax Measures
July 27, 2020
South Africa 2020 – Draft Tax Bills and Extension of COVID-19 Tax Relief Measures
August 3, 2020
In the context of the current epidemiological situation caused by the new coronavirus (COVID -19), Portugal approved the Council of Ministers Resolution No. 55-A/2020, of 31 July 2020, an alert situation throughout the continental national territory, except for the Lisbon Metropolitan Area, where there is still a contingency situation. These shall remain until August 14.
On the same date, Portugal approved the Law No. 29/2020 which contains additional tax measures to support the micro, small and medium sized enterprises in this context. This Law establishes the following measures:
a) A temporary suspension of advance payments of corporate income tax (CIT) for entities classified as micro, small and medium sized enterprises (SMEs), as defined under Article 2 of the annex to Decree-Law No. 372/2007 of November 6, as well as for cooperatives.
b) The refund of special advance payments that have not been deducted before the end of the period defined in paragraph 3 of Article 93 of the CIT Code, from the first next fiscal period, concerning entities classified SMEs and cooperatives.
c) A maximum deadline for refunds of VAT, CIT, and Personal Income Tax whenever the result of the withholding tax or advance payments or settlements is higher than the tax due.
