President Laurentino Cortizo sanctioned the new norm as a measure of relief to taxpayers affected by the pandemic and to encourage economic reactivation in the country.

Taxpayers will have until August 31, 2021 to make payments or sign a payment arrangement for unfulfilled obligations until January 31, 2021.

Natural and legal persons are also granted the opportunity to present again documents that they had to endorse until January 31, 2021 and they are granted the remission of 75% of the corresponding fine, provided that they pay the remaining 25% before December 31, 2021.

Another highlight of the law is that it establishes new tax relief measures, mainly in the real estate area, extending the 10% discount for property tax until the end of April.