The Community of Madrid has decided to extend the tax moratorium again during the period of the Pandemic crisis for Coronavirus. This measure has been in force since the middle of March and will remain for at least another couple of months as a presentation of the Ministry of Finance on the issue for tax deferrals and payments of taxes has been raised.
The Ministry of Finance in the Community of Madrid has issued an order to extend the tax moratoriums; this is promoted by the regional government for the presentation and declaration of self-assessments of inheritance, gift tax and other legal obligations and property transfers.
In first instance, they declared unfit all the procedures between the days 13th and 26th of March. The moratorium of one month will be extendable while the state of alarm remains active, the objective of this decision is that no taxpayer in Madrid is affected by the uncontrollable situation no matter if is a company, SMEs, self-employed or individual, for instance is has being already decreed another extension of the state of alarm for other 15 days, so the containment will continue until April 26.
This initiative of the Community of Madrid is supported by the tax experts who have complained to the Tax agency in recent days about similar measures used by other professional tax associations, also the Spanish Association of Tax Advisers and the General council of economists have expressed demand for a general moratorium on taxes.
To date the government has approved a six month deferral for income tax, VAT and corporate tax with a turnover of less than 600.000€, but maintains in force the obligations for tax payers, as well as the calendar for tax income 2019 that begun on April 1st.
