Tax solutions provider Avalara published a guide to tax relief measures governments are taking in response to COVID-19, which it promises to update on a daily basis.
A spokesperson said governments are grappling with how to combat the economic impact of COVID-19 and said many are turning to tax to help bolster their sluggish economies.
In some countries, that involves tax filing and payment extensions or temporary rate reductions.
In the US, the House of Representatives passed the Families First Coronavirus Response Act (H.R. 6201) on March 14, which would provide paid sick leave and free coronavirus testing, expand food assistance and unemployment benefits, and require employers to provide additional protections for health care workers.
The Senate is waiting to receive the bill and plans to “continue to develop” it, according to U.S. Senate Majority Leader Mitch McConnell.
Avalara also said US Treasury Secretary Steven Mnuchin is reportedly recommending the Internal Revenue Service (IRS) delay income tax payments without interest or penalties for most Americans.
Obviously, this is a fluid situation, making Avalara’s daily updates a helpful resource to stay up-to-date. You can find the guide on the Avalara website:
Link to Avalara’s U.S. tax relief updates
Link to Avalara’s International VAT relief updates
You should consult with your tax advisor for your individual questions and concerns.
