Annual and Monthly Tax Compliance

Annual Tax Compliance

Our services consist in providing our clients effective help in order to solve the different practical situations arising from the application of the current tax legislation, for that purpose we have a staff of highly trained audit professionals in different areas, most notably:

1. Assistance in the preparation of annual income tax declarations of the company, applying programs of validation to the taxable bases of the taces subject to the tax review program. This includes:

• Determination of tax equity at the beginning of the year and its variations, for purposes of the monetary correction process.
• Review of the criteria for monetary correction of real assets and liabilities.
• Determination of the definitive taxable income as of December 31, including identification of Rejected Expenses.
• Determination of Tax Initial Own Capital and Municipal Tax as of January 1.
• Determination of Tax Profits balance as of December 31, according to the Internal Revenue Service’s instructions.
• Comprehensive review of the corresponding Form No. 22 Annual Tax Return and the statistical data that must be included in that form.
• Determination of the variable rate for monthly provisional payments (P.P.M), valid for the period from April to March, if applicable.

1. Assistance in the preparation and submission to the Internal Revenue Service (SII) of the annual sworn declarations, in case that any company is required to submit it.

Monthly Tax Compliance

In order to carry out this service, our objective is to supervise the correct declaration and payment of the monthly retained taxes, as well as the information which must contain the declarations, according to instructions given by the Internal Revenue Service (SII), for this the following tasks are carried out:

1. Determination of the monthly tax returns (Forms 29 and 50 from SII), with the purpose of reasonably ensure their authenticity, both qualitative and quantitative. This includes taxes:

• VAT, fiscal debit and credit;
• PPM (mandatory and voluntary monthly provisional payments)
• Single tax of second category to the dependent employees;
• Fees Withholdings;
• Additional tax withholdings which includes tax on profits remittance.

1. To apply programs of selective review to the taxable basis of those taxes declared monthly in Forms No. 29 and 50 from SII.