Posts Tagged ‘taxpayers’
The government raises the income tax and changes of snuff, more expensive the pack
As for the corporate tax is reduced temporarily limit the application of deductions from 35 to 25%.
Is removed indefinitely accelerated depreciation, which continue to exist only for SMEs and for expansion of staff.
A pack of 20 cigarettes costing 4 euros on average is 5 cents more expensive.
With the modification of these taxes, the government estimates that 12.314 million euros raise this year.
Snuff
The tax measures announced Friday by the Government and published in the Official Gazette on Saturday include a series of changes in corporation tax for big business and the excise duty on snuff. It also specifies that the tax amnesty will not help taxpayers who are under investigation.
With the rise and modification of these taxes, the government estimates that raise 12.314 million euros this year.
Corporate Tax
With the amendments of this tax the government hopes to enter 5,300 million euros:
The Royal Decree Law temporarily reduces the ceiling of the application of deductions from 35 to 25%. This eliminates indefinitely accelerated depreciation, which continue to exist only for SMEs and for expansion of staff, which will have a positive impact, as the Executive, 840 million euros.
It eliminates the possibility of deferring to other exercises tax benefits, which will be raised 210 million, temporarily change the system of partial payments, 2,500 million more, and limiting the deduction of financing costs indefinitely for 30% this heading, provided from one million euros, involving a further 1,050 million.
It also establishes a tax on foreign source dividends, which will provide 750 million.
Tax snuff
Restructuring the tax system Tax on the Work of Snuff, acting on specific stretches and ad valorem taxes imposed on cigarettes. This measure would increase state revenues by 150 million euros this year:
We review the tax structure in the case of cigarettes, increasing the weight of the specific component versus ad valorem component, which is reduced by two points.
Thus, the cigarettes will be taxed by a flat rate of 55% (previously 57%) and a specific type of 19 euros per 1,000 cigarettes (so far, the specific type was 12.5 euros per 1,000 ), while the bite will be rolling the proportion of 41.5% and a specific 8 euros per kilo.
Taking as practical example shows a pack of 20 cigarettes snuff it takes on average 4 euros:
If you apply the flat rate of 55% would lower the price about 8 cents (2.28 euros presumably on those 4-to 57% – 2.20 would represent the final price).
On the other hand, if before a pack of 20 cigarettes a specific type assumed 25 cents on the price (when 1,000 cigarettes were valued at 12.5 euros), now with the further increase to 19 euros per 1,000 cigarettes, this is expensive 13 cents, to 38.
Thus, by having to subtract 8 cents proportional rate (the 55%) at the price of a pack of 4 euros, while adding 13 cents on the specific type (19 euros per 1,000 cigarettes), the final price would increase at 5 cents.
Other taxes
The royal decree law also includes measures to provide greater financial autonomy to the municipalities in the Tax on the Increase in Value of Urban Land and administrative measures that help to generate savings in the management of the real estate sector public.
Posted in Finance News, Uncategorized | 
Tags: income tax, modification of these taxes, Tax snuff, taxpayers, The tax measures | 
No Comments »
Request for Tax Return and Compensation
The tax rebate is a benefit which is the delivery by the administration of securities are recorded as a credit on tax returns from national tax. DIAN also must return promptly to taxpayers of overpayments or what not because that these have been made on account of tax obligations, whatever the reason for payment, following the same procedure applies for returns of credit balances.
In the case of leaders of the sales tax, repayment of credit balance arising in the tax sales may only be applied for by those responsible for the goods and services referred to in Articles 477 and 481 of the ET, aqulléos and balances arising on account of withholding taxes by way of the perpetrators of the common to the concurrence of the balance in favor.
On the other hand, when the taxpayer has not repaid the balance to pay some income tax returns and registered domestic balances for which you are entitled to a refund, the taxpayer may apply for compensation from taxes, between the credit balances and balances to pay to have.
When the taxpayer or indicate the tax and tax period to which balances have to be compensated for, the DIAN will apply to the obligation oldest in the following order: first to the penalties, second to interest and lastly to tax , deductions or payments.
If the taxpayer reflects credit balances and pay and compensation but does not request a refund, the administration fee compensation first and if the returns prove surplus. This informal compensation can not make the administration if the taxpayer is subject to insolvency regime (1116-1106 Law Art 17)
Taxpayers who are entitled to a refund and netting for the income tax.
Credit balances arising in the income statement may be obtained from the DIAN like to return and / or compensation.
The credit balance that originates in the income statement for the positive result generated by the transaction between the following factors:
Deducted at source by way of income tax year + Advance income tax last year + balance for the previous year without refund or compensation request – Tax charge – Advance current tax year – Penalties.
In the case of not obliged to declare, there is possibility of credit balance, because the tax statute states that for these taxpayers the value of the tax charge is equal to the withholding practiced them, and if arrived to file tax returns is not valid and deductions as are the income tax there will be no return and / or compensation.
Taxpayers who are entitled to a refund and compensation for the VAT balances.
- The heads of goods and services dealt with the Article 481 of the ET :
The tangible goods that are exported.
The tangible personal property sold in the country to international trading companies, provided that they have to actually be exported directly or after processing and the production of intermediate services to be provided to such companies, provided that the good the end is actually exported.
The school type books heading 48.20 of Customs Tariff and the forms referred to in Article 478 .
l alcohol fuel destined for blending with gasoline for motor vehicles.
The services are provided in the country in developing a written contract and used exclusively overseas, by persons or companies with no business or activities in Colombia. Likewise, tourist services to foreign residents that are used in Colombia. Read the rest of this entry »
Posted in Taxes | Tags: balance in favor, Compensation, national tax, Request for Tax, Tax Return, taxpayers | No Comments »
Statistics Tax Motor Vehicle Registration
The State Agency for Tax Administration publishes the Statistical Tax Motor Vehicle Registration, Progress in two versions monthly and annual statistics based on the statements that taxpayers are obliged to file the Special Tax on Certain Means of Transport (IEDMT) with the first definitive registration in Spain of new and used motor vehicles operated motor for driving on roads and public lands. The Monthly Progress Reporting for the year with a time lag between the reference month and the month of publication of approximately 35 days. The annual Statistical Reporting for the last day of the fiscal year of reference of statistics.
The data source object of statistical analysis is the information contained in the declaration form 576 (Declaration of Special Tax on Certain Means of Transport) which must be submitted in a telematics.
Posted in Taxes | Tags: .Statistical Tax, financing, Special Tax, Tax, Tax Motor, taxpayers | No Comments »