The period for filing the IRS statements starts this Thursday and runs until June 30, the deadline for taxpayers to submit their income for 2020.
The process is completely electronic and must be carried out through the website of the Finance Portal.
It should be stressed that whoever does not submit the declaration by the end of the period and is not covered by the automatic IRS, may be forced to pay a fine.
A statement from the Ministry of Finance confirmed the electronic delivery and the dates and ended up clarifying some questions that were raised about support for the reduction of economic activity, which until now everything indicated they would be subject to taxation, but which are, after all, exempt from tax.
Thus, extraordinary support for reducing the economic activity of self-employed workers and members of statutory bodies, the so-called managing partners, will not be subject to IRS taxation.
Only the lay-off, recovery support and exceptional support to the family pay tax.
“As part of the preparation of the 2020 IRS campaign, taking into account the relevance of the principle of collaboration in the relationship with taxpayers, the Tax and Customs Authority, together with Social Security, framed for tax purposes the exceptional and temporary measures of response to the covid-19 pandemic. Thus, support paid to workers by Social Security in the context of exceptional and temporary measures to respond to the pandemic covid-19 for compensation of wages is subject to IRS, while support destined to compensation for loss of income is excluded from taxation in IRS ”, read in the Government document that presents a table with several examples of support subject to tax or not.
It should be stressed that the sooner you submit the declaration, the sooner you will be reimbursed, if necessary.
In general, those who have receivables, should be reimbursed between 15 and 30 days after submission of the declaration, but this year the Executive has already said that he may even pay earlier than last year.