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The Income 2021 Operation process begins on Thursday. And due to the spread of the pandemic, the Internal Revenue Service (SII) implemented a series of modifications so that the process can be 100% online. “The focus is on people and their safety, that is why we call on them to stay at home, because as a Service we will provide them with the same support as always, remotely, making all the information and guidance they require at their disposal” says the SII.
· This year a virtual assistance system will be implemented, that will allow taxpayers who have an Income Proposal to schedule an hour through MiSII, to be attended remotely, according to the availability of the agenda that can be accessed in the same tool.
· The system will be available to taxpayers, both individuals and companies, who have an Income Proposal and who require special assistance, and who do not find the information they need in the Income Portal, frequently asked questions and help guides, among others.
· To strengthen access to information, this year new self-learning tools have been made available to taxpayers such as an e-Learning course for individuals and also talks on tax regimes for companies, which allow access to practical exercises according to the regime tax in which they are registered.
· Use of segmented communication through emails to reach honorary workers and other stakeholders with information and assistance.
New Income Regimes:
· From this Income Operation, first category taxpayers must declare under the new Income regimes that Law No. 21,210 incorporated: General Regime, General Propyme Regime and Transparent Propyme Regime.
· To facilitate the declaration process and given that the Tax Modernization Law established that the SII must prepare proposals for SMEs of its tax base and its Own Tax Capital, the SII will offer a proposal of Income Declaration to the Taxpayers of the regime Propyme General and Propyme Transparente, which are added to the proposal for Presumed Income taxpayers.
To prepare the proposals, the information available in the SII is used, such as the information from the affidavits, the Purchase and Sales Register and Form 29, which allows to have certainty in the data that is proposed and avoid errors of involuntary data transfer.
· In the case of companies of the Transparent Propyme Regime, the proposal offers the Net Taxable Income, the Own Tax Capital (used only to present to Financial Institutions) and Deferred Income if applicable.
More about Operation Rent
· In the case of the General Propyme, the proposal incorporates the Taxable Net Income, the Taxable Capital, the Registry of Taxable Income, Business Income Registries, Records of Accumulated Balance of Loans, Own Capital in addition to the Deferred Income if applicable .
As part of the tax measures of the Economic Reactivation Plan, this year the companies of the Propyme Regime will access a decrease in the first category tax rate, with a rate of 10% for the income obtained during the years 2020, 2021 and 2022 Additionally, they may reduce the Provisional Monthly Payments by half (from November 2020 to December 2022).
· In the case of people who have accessed a Solidarity Loan during 2020, their repayment obligation begins in Operation Income 2022.
· For people who agreed to the early refund of the withholdings of fees for January and February 2020, there will be a consultation option that will allow them to confirm if they accessed the benefit, since the withholding already returned will not be considered for payment of the social security contributions, refund or tax payment, as appropriate, which will be reflected in your declaration proposal.
· In the case of taxpayers who requested the Middle Class Bond without meeting the requirements, and who to date have not made the refund, the amount not returned, plus the corresponding readjustments and interest, will be compensated by the General Treasury of the Republic with its Return of Rent, if applicable.
· For people, starting this year, a new income tax tranche is incorporated that will be applied to people with annual income over $ 189,827,880 (310 UTA), with a rate of 40%.
· The companies covered by the tax regime 14 letter A) and those of the general ProPyme regime have the possibility in this Income Operation to opt for an exceptional rectification of their Own Tax Capital with a rate of 20%, this benefit that was also in force in the Operation Past income can be used for the last time this tax year, so it is recommended that companies review their situation to be able to choose correctly.
·People who received the 2nd withdrawal from the AFPs until December 31, 2020, must incorporate said withdrawal as income within the base of the Complementary Global Tax, when their income exceeds $ 18,370,440 (30 UTA).
· In 2021, around 500,000 paid workers will have to contribute. They will have the option of doing so on 100% of the taxable base, which will grant total pension coverage, or on 27%, which will provide partial coverage.
· Paying their pension contributions will allow the worker to pay fees to access disability and survival insurance, coverage against occupational accidents and occupational diseases, the right to care for children within the framework of the Sanna Law, health benefits, medical leave and associated subsidies, right to family allowances, and right to pensions.