SII enables option to request state loan



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He Internal Revenue Service (SII) reported that the option is now available for dependent and independent workers and individual entrepreneurs to review if they meet the requirements in September to qualify for the State Loan with a real interest rate 0%, up to $ 650 thousand, intended to support those who have faced a reduction in their income as a result of the health emergency.

With today’s publication of the August CPI, the institution updated the data to enable the option.

Which are the requirements?

To access this benefit, dependent workers and individual entrepreneurs must register an average taxable income equal to or greater than $ 400 thousand during 2019, and have a decrease in income of at least 30%, in the month prior to the one requesting the benefit. In other words, to apply in September, income from August must be considered.

The solidarity loan that the taxpayer will be able to access will correspond to 70% of the decrease in income experienced, with a ceiling of $ 650 thousand, and may be requested for up to 3 months, continuous or discontinuous, between August and December 2020.

For their part, independent workers can also access up to three times between June and November to a similar, repayable loan, with a real rate of 0%, readjusted according to the CPI. That is, if they asked for the loan in June, July and August, they already completed the maximum possible application for the benefit.

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 of August 2020, the Income from electronic fee tickets must have decreased by at least 30% from the average between April 2019 and March 2020.

These amounts will not be subject to any tax or administrative withholding, except the withholding of up to 50%, for the concept of alimony debt.



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