Spain’s Government Extends Interest Free Tax Deferral Period For SME and Autonomous Workers From 3 to 4 Months

SPAIN’S Governmental Council of Ministers has approved a new royal decree with economic measures, which extends the tax deferment period for self-employed workers and SMEs from three to four months.

Finance Minister and spokesperson for the government, María Jesús Montero, explained that these specific groups can now postpone their taxes without adding any interest for up to €30,000.

Last March, the government also approved a regulatory change allowing SMEs and the autonomous workers to request tax debt deferrals of up to €30,000 for up to six months, three of those months without any added interest. The grace period has now extended to four months.

Until yesterday, the Treasury had received 1,016,688 deferral requests from which a total of 638,652 self-employed and SMEs have benefited from, the entire deferred amount exceeds €3 billion.

In regard to tax matters, alongside the four-month extension to pay back interest free taxes, the decree also includes different clarifications on the presentation of Corporation Tax. This is done in a way that companies that who have not been able to approve their annual accounts before finishing the term as a consequence of the Covid-19, can present it with the annual accounts which are available.