Through the Executive Decree number 298 of May 27th of this year, the executive branch grants an extension of the term for the annual Income Statement, according to the aforementioned decree, it extends to 120 calendar days counted from the date of enactment of Law 134 of March 20 for the payment of taxes that must be paid during said period and that are the responsibility of the General Directorate of Income (DGI) of the Ministry of Economy and Finance (MEF), without paying interest, surcharges, and fines.
Every year the Income Tax Statement for juridical persons must be submitted before March 31st, but before the worldwide pandemic of COVID-19 to this tax obligation, a first extension was granted, both for natural and juridical persons, until May 30th. However, as the contingency has not passed, the National Government has decreed that both the filing and payment of the Income Tax to be extended until July 17, so that the taxpayers can comply.
If the taxpayer submitted his corresponding Income Tax Statement and wishes to avail himself of the benefit, he may present a corrective statement until July 17, at no cost and with the possibility of rectifying or expanding it in the terms provided in paragraph 4 of article 710 of the Tax Code. In the aforementioned decree, direct and indirect national taxes, rates, special contributions, and any other money debts, liquid and payable that in any concept a natural or juridical person, as well as property tax, are included for the benefit of the extension must pay before the DGI. But, those whose obligations arise from the quality of withholding agents are excluded, among which are detailed: Income Tax withheld from employees, Income Tax withheld from non-residents, ITBMS withheld from non-residents, ITBMS withheld by the State, ITBMS withheld by local withholding agents and Dividend Tax.