Since January this year, the Tax Administration (SRI) has enabled its system for dependent workers to register their family obligations and thus be able to make a reduction in income tax corresponding to the year 2023.
Next February they have to present the personal expenses supplement for 2023 where these expenses were provided for last July supported by bills (when the system was reformed) and which allow reductions to be applied based on the number of dependent family members.
Those who do not have family responsibilities can apply for a tax reduction corresponding to 2023 of up to $963.53, and for those who do, the reduction increases as they have more responsibilities and can reach up to $2,752.96.
Parents registered as dependents of their working children must have an SRI code to verify their income.
The family obligations were presented last July on the personal expenses form submitted to the employer, recalculate those costs and the monthly discount calculated through the payment slip, based on the tax reform that the previous government managed to implement. But now they have to register with SRI.
This is a step-by-step guide to registering your family expenses
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The form for the projection of personal expenses is now submitted to SRI in February
Once the family expenses have been recorded, you can proceed with the generation of the annex of personal expenses. The preparation and sending of this Annex of personal expenses for the year 2023, which justifies the projection submitted to the employer in the fiscal year that ended, must be completed by February 28, according to the dynamics based on the ninth digit of the employee’s identity card. Failure to comply carries a fine ranging from $30 to $62.50, depending on the type of tax violation.
Cost projection for 2024
IN In February, the personal expenses projection form for 2024 must also be submitted – but to the employer. with detailed information related to their projected income in relation to dependency for the entire fiscal period, as well as the number of dependent family members and the projection of personal expenses that they estimate will occur in the current financial year. This calculates the monthly income tax deduction that will be made from your salary.
Source: Eluniverso
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