In this article we will begin to highlight some important aspects for the preparation of the income tax return for the taxable year 2022 of legal entities.
DIARIO DEL HUILA, TAX OFFICE
By: José Hilario Araque Cárdenas, tax adviser and consultant.
Juan Diego Araque Durán, lawyer specializing in tax law.
Although it is not about the proper accounting closing that previously had to be carried out, the truth is that, each taxable year there are many aspects to take into account so as not to fall into errors, inaccuracies or inconsistencies, which can lead to
considered, for example, a declaration as not filed, or that the tax figures obtained and reflected in the 110 format do not have the appropriate systematic interpretation because they have been the result of an Excel tool or an application to prepare tax declarations.
There are so many substantial and formal tax aspects and, of tax administration, that although they may seem simple, it is very interesting to take them into account and have them at hand as clearly as possible.
The Rent is from August 9 and until October 19, 2023.
A. CLASSIFICATION OF THE DECLARANT:
- LARGE TAXPAYERS: They are natural, legal or similar persons, as well as taxpayers of the Special Tax Regime and other entities qualified as such. La Dian, on December 26 of the previous year, issued Resolution 012220 where it qualified some taxpayers, managers and/or withholding agents as Large Taxpayers for the taxable years 2023 and 2024, and warns that the large taxpayers who were qualified for the years fiscal years 2021 and 2022 and, who were not selected as such for the years 2023 and 2024, lose said qualification for these fiscal periods.
Taxpayers qualified as Large Taxpayers for the 2022 term, while they hold said qualification, must present and pay the Income Tax and Complementary returns within the
deadlines established to declare during this taxable year. If you are responsible for VAT, your declaration and payment must be bimonthly and you will have the quality of VAT Withholding Agent even if you are not responsible for it. This condition must be reported in the body of the invoices.
- LEGAL PERSONS. They are legal persons, companies and similar entities and taxpayers of the Special Tax Regime, other than those classified as Large Taxpayers, who must make two equal installments of the
payment of Income Tax and Complementary taxable year 2022 within the calendar established in Decree 2487 of December 16, 2022.
Likewise, the entities of the cooperative sector of the Special Tax Regime must take into account for the presentation and payment of Income Tax for the taxable year 2022, the deadlines determined for people
legal. - NATURAL PERSONS AND ILLIQUID INHERITANCES. The deadlines for the presentation of the declaration and the payment of the Income Tax and Complementary taxable year 2022 for natural persons and illiquid successions, will be in a single installment from August 9 to October 19, 2023, according to the last two digits of the NIT.
B. THE LEGAL AND SYSTEMATIC SCHEME OF TAX BASE AND ACCOUNT
CURRENT:
It is one of the most important issues to have sufficient clarity when preparing the income tax return of a legal person, following the parameters of article 26 of the ET as it gives us results on which decisions are made for other treatments. tax, but not exactly consistent with all the lines and concepts of the 110 format that provides for special situations. Let’s see:
Total gross income (It is the total sum of the ordinary or extraordinary income
made in the taxable period)
Less: Returns, rebates and sales discounts
Less: Income not constituting income or occasional gain
The result is: Total net income constituting rent
Less: The costs of sale of the disposed assets and the cost of services rendered
The result is: Gross Income (in the 110 format this result is not found)
Less: Deductions (administration, distribution and sales, financial expenses, etc.)
The result is: It is the net ordinary income for the year
Less: Compensations (accumulated tax losses and excess presumptive income)
The result is: The net income, the presumptive income is calculated (For this year it is presumed that the net income is not
less than 0% of its net worth of the previous year)
Less: Exempt income (they are those provided for in article 235-2 of the ET)
Plus: Special taxable income (For example, for omitted assets or non-existent liabilities)
The result is: The Taxable Net Income applies the income tax rate of the previous result plus taxes on
dividends as appropriate.
The result is: Total tax on net taxable income(s)
Less: Tax discounts (they are those embodied in the legal regulations as such. Example: VAT paid on the acquisition of real productive fixed assets or donations)
The result is: The net income tax
Plus: Tax on occasional earnings (If there were occasional taxable earnings. Line 83 of form 110)
The result is: The total tax payable
FOLLOW THE CURRENT ACCOUNT OF THE PRIVATE SETTLEMENT:
Less: The income tax advance paid in 2021
Less: Balance in favor of the year 2021 (when instead of tax to be paid there is a balance in favor)
Less: Total withholdings and self-withholdings at the source in 2022
Plus: Advance of net income tax for the year 2023
The result is: The balance to pay for tax
Plus: Sanctions (Of extemporaneity, or correction of the statement)
The result is: Total balance to pay, or total balance in favor.
D. THE FIRMNESS OF THE INCOME TAX RETURN.
In accordance with the provisions of article 714 of the Tax Statute, the Dian has 3 years counted from the legal term established to declare, to modify the private liquidation of the income tax by means of the notification of
an administrative action called Special Requirement. If the statement is filed extemporaneously, the term of finality is counted from the date of filing of the statement. If the declaration yields balance to
favor, the term of firmness is 3 years from the date of request for refund or compensation of the balance in favor.
has 3 years counted from the legal term established to declare
E. FIRMING OF THE PRIVATE LIQUIDATION OF THE TAXABLE YEAR 2022 WITH BENEFIT OF AUDIT.
The declaration becomes final 6 months or 12 months from the date of timely presentation of the declaration, if within this term the Dian did not notify you of a summons to correct, special requirement, liquidation
provisional, as long as the net income tax increase is at least a minimum percentage of 35% or 25% respectively in relation to the net income tax for taxable year 2021 and the payment of the tax is made
within the legal deadlines established in the legal norm.
The opinions are the responsibility of the partners of Araque Asociados Consultores Tributarios y Legales. We rely on the understanding of current regulations and knowledge of tax law, and may not be shared by the tax authorities. Ask us at www.araqueasociados.