Extension of tax filing deadline on the table
By John McPhaul
Treasury Secretary Francisco Parés Alicea said Monday that an extension of the 2020 tax return filing period is on the table, although for now the date is April 15.
“At the moment it is April 15. The Legislative Assembly passed legislation giving the Treasury Department the power to evaluate how the department is operating within the crisis we are experiencing and decide if an extension is warranted until June 15,” Parés Alicea said in response to questions from the press.
“It is a discretionary matter that we are going to discuss with the governor and see how the tax cycle is behaving,” he added. “What our commitment is to all people is to pay the reimbursement equal to or faster than what they experienced last cycle.”
The Treasury chief said the matter will be discussed with Gov. Pedro Pierluisi and the federal Fiscal Oversight and Management Board.
Regarding the issue of government tax collections, Parés Alicea said that despite the COVID-19 crisis, the numbers have been increasing.
“They are quite solid collections,” he said. “In comparison we are $600 million above November . I anticipate that the month of December was a very good month and the collection from individuals was distinguished, to our surprise, [as was] the collection from corporations.”
Parés Alicea said government operations will not be affected by insufficient funds from tax collections.