You have probably seen the acronym ITF while you carry out or are about to carry out an operation through a bank or financial system entity. Said acronym means Financial transaction tax and it is paid every time we make one of them, such as deposits or transfers. If you want to know when and how to pay the ITF, check the information we have for you in the following note.
It is necessary to clarify, however, that this tax is already withheld by the financial company every time you carry out an operation, that is, you do not need to pay it on your own each time. However, some taxpayers do have to declare Sunat and pay the ITF under very specific conditions. Here we indicate what they are and how much the amount of the Financial transaction tax.
What is the Financial Transaction Tax or ITF?
According to the definition provided by Sunat, the Financial Transaction Tax (ITF) It is a tax created in 2004 in order to bank the economic and commercial operations carried out by people and companies through companies in the financial system, using the payment systems allowed by law.
ITF contributors are:
- Natural or legal persons with accounts in financial entities
- The natural or legal persons that make payments; acquire cashier’s checks, bank certificates, traveler’s checks; order collection, collection, money transfers or remittances, etc.
- The companies of the financial system, with respect to the taxed operations that they carry out on their own account.
How much is the rate of the Financial Transaction Tax?
The rate of Financial transaction tax It is equivalent to 0.005% of the total value of the operation you carry out. For example, if you carry out a transaction for S / 4,000, the bank will charge you S / 0.20 for said operation.
When must the ITF be paid?
The payment of ITF It must be carried out by the agents that withhold or receive the tax according to law, that is, the companies of the financial system and those that carry out fund transfers. They are in charge of declaring and paying the tax according to the monthly due schedule of tax obligations approved each year by Sunat.
The taxpayer must also pay the ITF in any of the following cases:
- If you have carried out special operations such as the delivery or receipt of your own funds or those of third parties through a payment system organized in the country or abroad, without the intervention of a financial system company.
- If you have paid more than 15% of the total of your obligations without using means of payment, that is, if you canceled your purchases or expenses from January 1 to December 31 without using cards, transfers, checks or other payment instruments. In that case, payment must be made with the Annual Income Tax Return.
To make this payment, you must follow these steps:
- Download the PDT 0695 – Tax on Financial Transactions
- Save the accumulated movements file and the file of counter-seat movements by mistake
- Create the files
- Entra al PDT N° 695
- Validate and matter to the PDT
- Fill out and save the information
- Enter Sunat Online Operations with your RUC, username and SOL password
- and a my statements and payments and then to PDT presentation
- Import the PDT file you saved
- Select the payment method
- Save your proof of declaration and payment.
You can also make the payment in person at an authorized bank if you presented your return with a zero amount to pay. To do this, you must place this data in the Payment Ticket Form 1662:
- Period: month and year.
- Tribute code: 8131, if you pay as a taxpayer or 8132, if you pay as responsible.
- Amount to pay.
What are the means of payment for the ITF?
The means of payment are the means that are used through the financial system to receive money, make money transfers between accounts of different people and companies active in the country. According to Sunat, they are:
- Account deposits
- Transfer of funds
- Payment orders
- Debit cards
- Credit cards
- Credit letters.
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