New Income Tax Withholding Percentages
The SRI has a free electronic invoicing system.
As of April 1, the application of the new withholding tax percentages for income tax came into effect according to decree 1021.
The Internal Revenue Service makes available to the public an electronic invoicing system that includes the new income tax percentages and their respective codes and concepts.
The new retention percentages are:
Withholding of 1.75% on payments or credits in accounts for transfers of all types of tangible movable property.
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A 1% withholding tax is levied on purchases of goods of agricultural, poultry, rabbit, bioaquatic, forestry origin and meats that are kept in their natural state.
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Withholding of 2.75% on all payments or credits in accounting accounts not covered by a specific withholding percentage:
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A monthly self-withholding of 1.75% on taxable income earned during the month must be carried out by financial institutions under the supervision of the Superintendency of Banks and private companies that provide mobile telephone services. Companies that have signed contracts with the State for the exploration and exploitation of hydrocarbons will also carry out a monthly self-withholding of 1.50% on their total taxable income earned during the month.
Para facilitar a los contribuyentes en la aplicación de los nuevos porcentajes se emitió una nueva resolución, la NAC-DGERCGC20-00000027 que permite a quienes emitieron comprobantes de retención electrónicos entre el 1 y el 6 de abril de 2020, transmitirlos electrónicamente al SRI entre el 7 y el 13 de abril del presente.