Income tax return 2023: everything you need to know

Sunat has already announced the official schedule to carry out the annual sworn declaration of the income tax corresponding to 2023. In this way, the entity is informed of how much income has been received to calculate the amount of tax to pay and/or the returns.

What is the deadline to declare annual income?

The due date schedule for filing the income tax return is organized by the last number of the DNI. In this way, those whose last digit is 0, the deadline goes until March 26, while April 10 corresponds to the number 9, according to Superintendency Resolution 000269-2023/SUNAT, issued with the purpose of that taxpayers can meet their obligations in a timely manner (see infographic).

In addition, it is specified that April 11 is the deadline for good taxpayers, as well as for those who are not required to register in the Single Taxpayer Registry (RUC).

Who is responsible for testifying?

All people and companies have the obligation to make the sworn declaration. Oscar Osorio, taxpayer services professional at Sunat, specifies that in the case of companies there are two categories: natural persons and legal entities, of which those who have obtained third category income or losses have the duty to make the declaration. and that are in the General Regime or the MYPE tax Regime.

In the case of those who are of the first, second, fourth and fifth category, they also have to make the declaration in case they have a balance in favor of the treasury. For example, those first category income taxpayers (who register rental income) and who have had a favorable balance in the treasury in box 162.

Why are there two schedules?

The collecting entity has published two schedules. The second was presented in compliance with Law 31940 enacted in November 2023. Its objective is to provide an extension to individuals and micro and small businesses (MYPE) that have obtained annual income up to the maximum amount of S/8 million 415,000 (1,700 UIT), so that they “punctually comply” with this requirement in a context of economic recession.

For this reason, the expiration schedule begins on May 27 and ends on June 10. In accordance with the rule, those who do not comply with these deadlines will obtain incentives that will be established by Sunat. Although it is not yet known what they are, Osorio confirmed to La República that they are working on it. For now, the main benefit is that companies will be able to use their credit for future monthly rent payments.

Do I have to declare if I am on the payroll?

No, since it is a fifth category income, the company you work for carries out this process. However, Sunat warns that in the event that you have changed your workplace at least once in the same year, you must have reported the amount of your settlement. If you do not provide this information, you must also file the declaration according to the schedule, so that the real calculation of your income and therefore the tax that corresponds to you is made. Another assumption to declare is if you are renting a home.

When can I start the declaration?

For natural persons, it is advisable to wait until February 12, since the Virtual Form 709 and the Persona APP will already be available and with updated information. While companies already have the Virtual Form 710, simplified or complete, since January 2, 2024 (although you could wait until the 12th of the following year to have the personalized information). Osorio recommends that users declare as soon as possible, because in the case of a refund, it will be deposited within a maximum period of 45 days.

What are the deductible expenses?

Deductible expenses will help reduce annual tax payment, and if it exceeds the amount, the surplus is returned to the taxpayer. From consumption in restaurants, hotels and bars, 15% is deductible, as long as it has been paid by electronic ticket. Contributions to Essalud for domestic workers (100%), professional services (30%), among others, are also deductible.