Nearly 50 companies have joined the fractional VAT payment and withholding tax regime, with these orders resulting in a deferral of 498 million euros in taxes, the Secretary of State for Tax Affairs said today.
António Mendonça Mendes spoke during a 'webinar' about “The economic recovery: institutional points of view”, promoted by the Order of Certified Accountants (OCC).
Speaking to Lusa, the Secretary of State for Tax Affairs, stated that, of that amount, 115 million euros correspond to deferrals from the payment of withholding taxes at the source of the IRS and the remainder to requests for deferral of VAT.
Of the 48.761 companies that adhered to this exceptional and temporary measure, adopted with the objective of mitigating the impact of the covid-19 pandemic on the companies' treasury, more than a third opted for the three-month installment plan.
This flexible payment system for withholding taxes from the IRS and VAT, allows the amounts due in April, May and June to be divided into three or six installments, with the delivery of one third or one sixth in the month to which payment is due, with the remaining installments being due on the same date in the following months.
Thus, those who chose to surrender one third of the IRS or VAT in April, will have to deliver a third of the tax related to that month in May, plus a third of the amount that was unpaid in April.
This logic applies equally to six-month installment plans.
António Mendonça Mendes also said that those 498 million euros represent about a fifth (20%) of the amount of taxes to be paid and that the data already available allow us to conclude that the largest companies are the ones that least resorted to this installment regime. payment of taxes.
Even among the micro, small and medium-sized companies that adhered to the indicators, they reveal that the measure “was used sparingly”, as mentioned by the Secretary of State in response to the OCC president, Paula Franco.
In April, only companies that are on a monthly basis paid VAT, that is, those that invoice more than 650 thousand euros per year. In May, it will be the turn of those who are in the quarterly regime to make the first payment for 2020, and only next week will it be possible to understand the level of adherence to this exceptional and temporary regime.
Today the deadline for companies to submit the declaration of VAT quarterly or monthly ends, with the tax to be paid until the 25th.