The companies that were canceled until March 31, 2022, must cancel the contribution in advance.
The resolution no. NAC-DGERCGC21-00000062, issued by the Internal Revenue Service (SRI) on December 30, 2021, determines the dates and conditions for the payment of temporary contributions established in the Organic Law for Economic Development and Fiscal Sustainability After the COVID-19 Pandemic.
The document establishes, among other details, the dates on which individuals and companies must cancel these securities.
The term to declare and pay the Temporary Contribution for the Post-COVID-19 Economic Boost will be from January 1 to March 31 of each year.
For this purpose, taxpayers must consider the evaluation criteria, exclusions, deductions, limits and other conditions provided for in the law and its applicable regulations.
How will the withholding of income tax to workers be, presentation of projection of expenses and annexes, according to the Regulation of the Economic Development Law
For natural persons it will apply from this year (2022). This is a one-time payment for individuals with assets of more than $ 1 million and $ 2 million, if they are considered conjugal partnerships.
Meanwhile, for companies it will be the payment in two years, that is, in 2022 and 2023. The contribution is 0.8% for companies with equity greater than $ 5 million as of December 2020.
If a company is canceled, until March 31 of this year, it must cancel in advance the contribution corresponding to the years 2022 and 2023 until the same date (March 31). The SRI specified that “If the cancellation is made later, the contribution prior to the cancellation must be settled.”
Both contributions must be declared and paid until March 31, 2022, and both are subject to payment facilities for a maximum of six months.
The SRI also detailed, through its resolution, that Form 126 is approved, called “Declaration and Payment Form for Temporary Contributions and for the Voluntary Tax Regime”, through which the settlement and payment of Temporary Contributions for the Post-COVID-19 Economic Boost and Fiscal Sustainability.
To carry out this procedure, the Tax Administration will make available to taxpayers, on its institutional web portal, the format of the form and its instructions.
Unique and Temporary Contribution
The SRI resolution establishes that March 28 to March 31, 2022 companies must cancel the third and last Single and Temporary Contribution (CUT), established in the Productive Development Law.
These are the changes, in economic matters, that will govern in 2022
The contribution, which is canceled from 2020, governs under a progressive table from 0.10% to 0.20%, calculated on taxable income as declared in 2018.
The tax authority details that, for this contribution, the companies canceled between the November 29, 2021 and March 31, 2022, they must declare and pay the CUT for fiscal year 2022 and 2023 in advance until March 31 of this year. (I)
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