On April 9, changes to the reforms to the Tax Code, VAT reforms and the creation of new tax regimes, of Decree 31-2024 will enter into force.
Free press He held a conversation with Óscar Chile Monroy, tax consultant and fiscal defense, specialist in tax and business issues, and partner of the firm MGI Chile Monroy and Associateson how these reforms can modify the inspection of the SAT regarding the movements of the taxpayers.
They could even impact citizens who are currently not registered in any regime. Basically, the decree introduces three key modifications:
- Reforms to the Tax Code.
- Reforms to the Value Added Tax Law (VAT) and
- Creation of the Law for the Integration of the Primary, Agricultural Productive Sector, Agricultural, crafts, Livestock, hydrobiological and beekeeping.
Next, the most relevant changes highlighted by the specialist.
Reforms to the Tax Code
1. Who should register in the RTU?
- Legal persons: Guilds, cameras, foundations, associations and cooperatives.
Additional obligation: Now, these entities must present the names of their partners or shareholders and specify their participation in the share capital.
Excluded entities: Trusts, societies and co -ownership, which have not been considered in the regulations as obliged subjects.
2. Mandatory use of NIT in all transactions
From April 9the tax identification number (Nit) should be used in All civil, commercial, labor and judicial relations. This suggests the disappearance of the figure of final consumer In many procedures.
Some of the operations where the NIT will be mandatory include:
- Civil transactions: Sale, lease contracts.
- Legal procedures: weddings, divorces and other judicial procedures.
3. Registration of shareholders in the RTU: What are your legal implications?
The registration of shareholders in the Unified Tax Registry (RTU) Not only has tax implications, but also security for the shareholders themselves.
He Article 120 of the Tax Code It does not explicitly establish that the SAT must handle this data under a confidentiality mechanism, which could generate risks in the protection of sensitive information. However, the regulation is expected to require how the security of these data will be guaranteed.
Reforms to the Value Tax Law (VAT)
4. Registration as a small taxpayer and the new rate for professional service providers
The figure of Little Taxpayer It does not discriminate between different types of economic activities. Both those who offer Professional servicestechnicians, artistic, crafts or other activities can opt for this regime.
If a taxpayer is registered in the General VAT regimecan be changed to the regime of Little Taxpayerprovided that their annual income does not exceed 125 minimum wages.
5. Does it should be changed from a general regime to small taxpayer?
The change of General VAT Regime to Little Taxpayer It will depend on the profitability of its operations.
If after subtracting costs and expenses its usefulness is higher than 28%the regime of Little Taxpayersince you will pay less taxes. However, if its usefulness is low (for example, 10%) and invoices less than Q400 thousand annuallyI could end up paying more taxes under this regime.
In conclusion, each taxpayer must evaluate their profitability before making a decision on the change of tax regime.
Creation of new regimes
6 Who can benefit from the new regimes productive and agricultural sector, agricultural and crafts sector or lungy and beekeeping sector?
The main interested in joining these regimes are the agricultural sectorslivestock and craftssince the VAT rate will be reduced from 5% to 1.5% on total sales.
However, the livestock regime has no income stop, unlike the primary regime.
7. Does the same percentage apply to all sales?
No. The law establishes that the reduced rate will only apply to sales for supermarkets, cantonal and municipal markets, collection centers and restaurants.
For those who are registered in any of this sector sell directly to the consumer in their own store, You cannot benefit from this regime and must pay under the regime of small VAT taxpayers.
8. Everyone who has a business in these sectors must register or change to these new regimes?
He Pivecuary primary regime is optionalnot mandatory, provided that sales are made in the mentioned markets.