Applications for the Solidarity Loan will begin within the next few weeks. This benefit allows individual workers and entrepreneurs, which as a result of the Covid-19 health emergency have faced a decrease of more than 10% in their formal income, access a UF loan which will be returned in four annual and successive installments, without penalties or interest.
The loan was approved in early April by the Chamber of Deputies together with the Middle Class Bonus. Also includes loans and bonds for pensioners Y carriers.
Which are the requirements?
The following persons may request the Solidarity Loan:
– Dependent and independent workers and individual entrepreneurs, who have experienced a decrease of at least 10% in your formal income. To prove the drop in income The average between the second semester of 2019 and the second semester of 2020 will be taken into account.
– Pensioners of old age and disability of life annuity with an amount equal to or less than $ 408,125, who may request it up to three times with an amount that will be, at most, the same as they receive monthly as a pension.
It should be noted that in the case of civil servants and civil servants, their annualized average income will be considered to estimate the fall in this.
What is the loan amount?
The loan It allows covering up to 100% of the drop in income, with a ceiling of $ 650,000 per month.
How many times can the loan be requested?
The worker You can request the loan twice and, if you have not received the Middle Class Bonus, You can order it three times.
How and when is the procedure done?
No document is necessary to carry out the procedure. However, to have tax code IBS O Unique Key.
To obtain your SII tax code, click HERE.
To know step by step how to obtain or recover your Unique Key, click HERE.
This benefit may be requested at Internal Revenue Service (SII) counting from the eighth day of each month. That is, the first request can be made from next May 8.
How will the loan be repaid?
The credit will have a one-year grace period and it will be paid in four annual and successive installments (from 2023), without penalties or interest, which will not exceed 5% of annual income.
The first installment will correspond to 10% of the total amount and the following three installments, to 30%. However, each annual fee may not exceed 5% of the income that is part of the annual income tax return.
In the case of pensioners, the loan must be returned to the General Treasury of the Republic in 48 monthly installments, equal and successive, expressed in UF, without penalties or interest, which may not exceed 5% of the amount of the pension.
While, In the case of pensioners with life annuities, the Insurer of Pension Funds or the paying agency will be the one who must withhold from the amount of this income the value of the corresponding quota. The Internal Revenue Service will notify the Pension Fund Insurer or the paying agency of the necessary information for the purposes of complying with the withholding.
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