New version of the Income Tax form
The Internal Revenue Service (SRI) has enabled a new version of the online form for filing corporate income tax returns, in accordance with the legal reforms contemplated in the regulations in force for 2019. In addition, the provisions of Executive Decree No. 1021 and Resolution No. NAC-DGERCGC20-00000025, regarding the deferral in 6 payments, have been implemented.
It should be noted that taxpayers may opt for deferral in 6 payments in accordance with the provisions of Executive Decree No. 1021 and SRI Resolutions NAC-DGERCGC20-00000025 and NAC-DGERCGC20-00000029 of this year, provided that the original or substitute tax return is filed before the due dates indicated in the following tables:
To qualify for deferred payment, the taxpayer must submit their original or substitute Income Tax return and make the first payment only by the following dates:
If original or substitute declarations are submitted after these deadlines, payment will be made in accordance with the general procedure provided for in the regulations.
From the second to the sixth payment, it must be made according to the following schedule:
When filing their corporate income tax return, taxpayers must ensure that box 6152, "Total gross income according to accounting records," contains the total amount (excluding returns and discounts) of income earned during the fiscal year. This box must be completed for the calculation of the applicable tax rate.
The Corporate Income Tax form is available on the SRI online main page which must be accessed with a username and password.
The SRI has also made available a guide for filling out this new form. You can download ithere.