COVID-19. Royal Decree-Law 19/2020, of May 26, adopting complementary measures to alleviate its effects
Posted: Tue Dec 17, 2024 8:53 am
A new legal regulation adopting complementary measures in agricultural, scientific, economic, employment, social security and tax matters to mitigate the effects of COVID-19.
What does it affect?
To Annual Accounts and Corporate Tax
Who does it affect?
To all taxpayers who must file the Corporate Tax and Annual Accounts
How does it affect?
Deadlines for the formulation and approval of annual accounts
It is established that the three-month period to prepare the pakistan phone number data annual accounts and other legally required documents will begin to run from June 1, 2020 and not from the end of the state of alarm.
The deadline for approving annual accounts from the time they are drawn up is reduced from three to two months, meaning that companies will have approved accounts filed with the Commercial Registry sooner, and this deadline is harmonised for all companies, whether listed or not, so that all must have their accounts approved within the first ten months of the financial year.
Filing of the Corporate Tax return for taxpayers who comply, for the formulation and approval of the annual accounts for the year, with the provisions of articles 40 and 41 of RD-law 8/2020
Corporate Tax payers whose deadline for the preparation and approval of the annual accounts for the year complies with the provisions of articles 40 and 41 of the Royal Decree-Law shall submit the tax return for the tax period corresponding to said year within the period provided for in section 1 of article 124 of Law 27/2014, of November 27, on Corporate Tax (LIS).
If at the end of this last period, the annual accounts have not been approved, the declaration will be made with the available annual accounts.
What does it affect?
To Annual Accounts and Corporate Tax
Who does it affect?
To all taxpayers who must file the Corporate Tax and Annual Accounts
How does it affect?
Deadlines for the formulation and approval of annual accounts
It is established that the three-month period to prepare the pakistan phone number data annual accounts and other legally required documents will begin to run from June 1, 2020 and not from the end of the state of alarm.
The deadline for approving annual accounts from the time they are drawn up is reduced from three to two months, meaning that companies will have approved accounts filed with the Commercial Registry sooner, and this deadline is harmonised for all companies, whether listed or not, so that all must have their accounts approved within the first ten months of the financial year.
Filing of the Corporate Tax return for taxpayers who comply, for the formulation and approval of the annual accounts for the year, with the provisions of articles 40 and 41 of RD-law 8/2020
Corporate Tax payers whose deadline for the preparation and approval of the annual accounts for the year complies with the provisions of articles 40 and 41 of the Royal Decree-Law shall submit the tax return for the tax period corresponding to said year within the period provided for in section 1 of article 124 of Law 27/2014, of November 27, on Corporate Tax (LIS).
If at the end of this last period, the annual accounts have not been approved, the declaration will be made with the available annual accounts.