On 8 July 2020, the tax authority published a Resolution 76/2020 to suspend the provisional corporate tax payments obligations for the months July, August, and September 2020 respectively. Note that, this relief applies to micro, small and medium-sized companies conditioning that a decrease of at least 30% in the taxable base declared for purposes of making provisional payments. Again, advance payments of the corporate tax had already suspended by Supreme Decree 420 of 2020 for the months April, May, and June 2020.
On 8 July 2020, the tax authority also published Resolution No. 77 to extend the relief from paying value added tax (VAT) obligations for the months of July, August, and September 2020 respectively. Note that, this relief applies to taxpayers who have experienced a decrease in averages sales of at least 30% declared in April, May, and June 2020. According to this Resolution, SMEs got opportunity to do their payments in 12 equal monthly installments beginning from October 2020, without interest. Also, taxpayers with revenue of between 75,000 UF and 350,000 UF got the opportunity to do their payments in 6 equal monthly installments beginning from October 2020, without interest.
