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The Internal Revenue Service (SII) reported that from this Friday, November 6, the option is available for dependent and independent workers and individual entrepreneurs to check if they meet the requirements to qualify for the State Loan with a real interest rate of 0%, of up to $ 650 thousand, intended to support those who have faced a reduction in their income as a result of the health emergency.
This, due to the date of publication of the October CPI, information from which the Internal Revenue Service was able to update the data to enable the option.
“In the case of independent workers, This is the last month in which they can access the benefit, which in their case was available since June of this year. To do this, they must have issued electronic fee tickets in at least 3 months between April 2019 and March 2020, or in at least 6 months between April 2018 and March 2020. In addition, in the month prior to the one in which the profit, the income from electronic fee tickets must have been reduced by at least 30% compared to the average between April 2019 and March 2020 ″, details the press information.
“In the case of dependent workers and individual entrepreneurs, To access the benefit, they must register an average taxable income equal to or greater than $ 400 thousand during 2019, and have a decrease of -at least- 30% with respect to the average of the remunerations received in 2019. For individual entrepreneurs, the base of the calculation of PPM, according to what is indicated in the law in the month prior to the one requesting the benefit ”, he adds.
The solidarity loan corresponds to 70% of the decrease in income experienced by the taxpayer, with a cap of $ 650 thousand, and can be requested for up to 3 months, continuous or discontinuous, between August and December 2020, they explained.
The same body detailed that these amounts will not be subject to any tax or administrative withholding, except for the withholding of up to 50%, for alimony debt.
“It is important to consider that, since the benefit was available for up to three months, if the dependent, independent or individual entrepreneur already applied for the loan in three periods, this means that they completed the maximum possible request for the benefit ”, concluded the SII.
The repayment of the loan must be made starting in 2022, in 4 installments, according to the following detail:
1st installment equivalent to 10% of the benefit delivered, to be paid in 2022
2nd installment equivalent to 30% of the benefit delivered, to be paid in 2023
3rd installment equivalent to 30% of the benefit delivered, to be paid in 2024
4th installment equivalent to 30% of the benefit delivered, to be paid in 2025
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