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Spain: financial measures to support businesses for Coronavirus Covid-19

TUESDAY 17 MARCH 2020

We write this with reference to the exceptional and difficult situation caused by Coronavirus to inform you that on our part LAWANTS, LAWYERS & ACCOUNTANTS, SLP, we will do our best to keep you informed and to advise you as best as possible on the decisions that will be taken and communicated by the Spanish authorities and on the appropriate strategies and measures to be taken in your exclusive interest.

Meanwhile, below, we provide you with a summary of the main measures announced so far by the central government with the aim of mitigating the economic impact of the health crisis, and which should be adopted today 17.03.2020 by the Council of Ministers:

TRANSITIONAL FINANCIAL MEASURES:

INSTALLMENT OF TAX OBLIGATIONS: All tax payables and tax obligations that must be presented from 13 March 2020 until 30 May 2020 can be divided into installments without guarantees if the following conditions are met:

  • that the debt does not exceed 30,000.00 euros
  • that the company in 2019 had an overall turnover of less than 6,010,121.00 euros
  • it will be possible to pay in installments any tax (including IRPF retentions, VAT and Corporate Tax payments)
  • Even self-employed / freelancers may request the application of the above installments.

The terms for the installments will be as follows:

  • Installment of 6 months with monthly payments
  • No interest will accrue during the first 3 months of installments

We are aware of the active role that our firm can take on in this delicate moment for companies, do not hesitate to contact us in case of doubts. We will keep you informed, our entire team of lawyers and accountants is currently on the front line for the protection your interests and to help your business.

Kind regards,

Lawants, Lawyers & Accountants, S.L.P.

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