We remind that the following obligations must be met in January 2020:
Tax:
- Filing of Withholding at Source for Salaried Employees Annex
With regard to payments made to their employees, employers must file information on income tax withholding at source applied to income under the employment relationship between January 1 – December 31 each year. This information must be submitted through the Internal Revenue Service’s website, including in cases in which no withholding was generated during the above period.
- Filing of estimate of personal expenses
All taxpayers under an employment relationship must provide their employer with an estimate of deductible personal expenses for the purpose of calculating income tax expected to be incurred over the current fiscal year. This document must specify the itemized expenses and estimated amounts for the whole fiscal year.
- Semi-annual VAT return
Taxpayers who only transfer goods or provide services subject to a 0% rate or that are untaxed, and those who are subject to withholding of the total VAT incurred, shall file a semi-annual return for these transfers. The information on operations made between July and December must be filed in January.
- Filing of PVP Annex for Taxpayers Subject to Excise Tax (“ICE”)
Manufacturers and importers of goods and service providers who are subject to Excise Tax (“ICE” in Spanish) must submit information on suggested selling prices to the public as at December 31 of each year, within the first five days of January of the year to which the reported information corresponds.
Corporate:
- Filing of information and documents relating to shareholders of foreign companies that are shareholders of domestic companies
Domestic companies that have foreign companies among its shareholders must provide information to the Superintendency of Companies, Securities and Insurance on the foreign companies’ good standing and a complete list of all their shareholders or members up to the ultimate individual or listed company beneficiary.
Labor
- Filing of information on employees of companies engaged in complementary activities
By January 31, all companies engaged in complementary activities must submit a list of their employees and former employees indicating the date of commencement of services for the user company, the days of actual work, and the number of dependents.
We remind you that in calculating employees’ profit sharing the user company must take into consideration their own employees and former employees as well as the employees and former employees of companies that performed complementary activities for them.
Editorial Board
