Income tax: Have you already submitted your projection of personal expenses? Now it is your turn to submit an annex for 2022

Once the deadline is over – this January 31 – the deadline to submit projection of personal expenses To obtain a reduction in income tax for 2023, the next procedure to follow in the Internal Revenue Service (SRI) is to present the personal expenses annex, but those that correspond to 2022 with the values ​​actually executed and that were projected in January of last year.

This time all workers in a dependency relationship who took advantage of the reduction must present this annex in February. The terms begin to run on February 10 according to the ninth digit of the taxpayer’s identity card or RUC.

Reduction in income tax: who must submit a projection form for personal expenses and how to do it

Until last year -when the payment corresponding to 2021 was made-, this annex was only submitted by those who had submitted the projection form for personal expenses greater than 50% of the deducted basic fraction (more than $5,606). However, now it must be submitted by all people who applied for the rebate, regardless of how many expenses they projected.

This occurs because with the tax reform that was approved at the end of 2021, the expense deduction scheme was changed due to the reduction for income tax and with this the way to reduce the payment was also modified. This has been in force since fiscal year 2022, the income tax for that year is the one that must be paid now. The role discounts that are made to workers are projected values ​​that are settled at the end of the period.

All workers who used income tax reduction in 2022 must submit a personal expenses annex in February

For this reason, this will be the first income tax declaration to be made based on the tax reform that was included in the Economic Development and Fiscal Sustainability Law that entered into force on November 29, 2021 by the Ministry of Law.

After this reform, article 34 of the regulations to the Internal Tax Regime Law indicates that “in order to carry out the reduction, the taxpayer must submit the annex of personal expenses in the manner established by the Internal Revenue Service.”

The SRI will carry out a special broadcast this February 1 at 3:00 p.m. to explain the details about the Personal Expenses Annex and how to fill it out, through its Facebook channel www.facebook/SRIoficialEcuador/. (YO)