He Tax Administration (SRI) the procedure for exemption from payment of foreign exchange tax (ISD) for studies abroad and illness has been changed.
For this reason, he informed taxpayers and the national financial system, companies of courier and the National Customs Service on applications for this exemption and this must be presented directly to the financial institution, courier or the customs agent with whom the transfer, shipment or transfer abroad is carried out.
Exemption from this tax includes study abroad, living expenses and medical care expenses arising from the treatment of catastrophic, rare or orphan diseases.
DRI explained that this change in the release procedure was due to a change in the regulations for the application of the tax on the outflow of foreign currency.
In its new Resolution no. NAC-DGERCGC23-00000009 no longer states that the original of the official letter of acceptance of the exemption issued by the SRI must be presented, and the documentation for the exemption due to illness is also included.
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The SRI made the above decision so that tax withholding and collection agents and beneficiaries are clearly aware of the necessary requirements for exemption processing. A legible copy of the “Informative Statement on Exempt Transactions / Not Subject to Currency Output Tax” and accompanying documentation must be presented to the financial institution or company in courier before transferring or sending currency. While the one who transfers it in cash must present the specified declaration and accompanying documentation when leaving the country, at the simple request of the customs authority.
To free up studies abroad and living expensesthe payer, before transferring or shipping foreign currency abroad, is obliged to submit to the appropriate institution (financial, courier or customs authority) the following:
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For exemption from medical care expenses arising from the treatment of catastrophic, rare or orphan diseasesthe payer, before transferring, shipping or transferring foreign currency abroad, must deliver to the appropriate entity (financial institution, courier or customs authority) the following:
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