The Community of Madrid in conjunction with the Regional Ministry of Finance & Public Service, will continue with the referral/postponement for the payment of the duly and assigned taxes and own management until the end of the crisis for Coronavirus.
The consequence of the fiscal moratorium approved by the Governing Council on March 13 of 2020 in which the period between March 13 and March 26 for the filling for tax return and self-settlement was declared as non-working days.
For this reason, the Community of Madrid established that the period for the presentation for Madrid´s Tax return should be extended one more month.
Furthermore, the following taxes and fees fall under the mentioned moratorium:
- Inheritance and Donations
- Documented Legal Acts
- Transfer Taxes
- Incomes for Gaming tax /Gambling tax
At the moment the period for one Month of postponement has been established, which can be extended as long as the state of alarm in Spain is maintained. The main idea is that no taxpayer in Madrid, wherever a company, a SME or self-employee person or individual, should affect by this uncontrollable situation.
The goal is to improve the liquidity of the companies and families in the region that will be able to delay the payment of taxes without any surcharge or applied penalty.
The Community of Madrid placed emphasis on the overall moratorium so the Spanish Government could consider this situation of tax payers, given that at the state level the current filing schedule for declarations and self-assessments is maintained despite the Royal Decree 465/2020 of march 17th declared as state of alarm.
If you have any doubts or queries, please do not hesitate to contact the professional team at Arintass. We will help you to solve your administrative and fiscal problems in a timely manner. Our highly qualified team in various branches of legal, tax and accounting advice is at your disposal to solve all kinds of formalities and tax advice related to an inheritance or assigned taxes.
