Like every year, the moral people (and physical) are required to compliance from Annual statement. The Service tax administration (SAT) reported that the deadline to present the corresponding fiscal year 2021is he last day of march.
The statement comes pre-filledand this has generated diverse problems related to tax losses that exist in companies (moral persons, such as SA, S. de RLAC, SC, etc.). Other economic entities can also generate fiscal loss.
The tax loss occurs when the company spends more than the income it receives, this is possible when the capital that was contributed to the company absorbs the excess expenses. It is recognized for tax loss, when the loss is causedsubject to the rules established by the Law of income tax (ISR).
Tax Loss Recommendations
The SAT gives a series of recommendations to make your annual declarationwhere it gives you a series of solutions to the problems related to it, in a document called ‘Annual declaration for legal entities 2021. Frequently asked questions’.
At tax loss section says that in the annual return for the year 2021 pending tax losses are not displayed to apply from previous years, which were declared correctly in the year 2020. How can I view them in my return?
The SAT document says that in the question Do you have tax losses from previous years to apply? located in the “determination” sectionyou must return to answer that question by selecting one of the options answer “no” and then answer “yes”, this will cause update preloaded information of the tax loss amounts pending to apply.
The SAT highlights that in case you have a tax return saved without sending (temporary tax return) for the year 2021, you must delete it. Likewise, it deletes the history, cookies and cache so that the preloading of the information is updated.
Another frequently asked question is that if a tax loss was obtained in the annual statement for the 2019 financial year, but it is not reflected in the 2021 statement, how can it be applied in the company’s statement?
The answer is that if in the 2019 annual return your result was a tax loss, you must verify if it was registered in the field “Tax loss for the year”located in the tax determination section. In case you don’t see it reflected in this field and instead look at the field “Fiscal profit for the year” “0”, perform the following procedure so that your loss of financial year 2019 is preloaded in the 2021 declaration:
1. Submit a supplementary declaration of modification for the 2019 financial year, without modifying any data, so that the result obtained is corrected and the amount of your loss is shown in the “Tax loss for the financial year” field.
2. Wait 24 hours for the information from your 2019 return to be reflected in the 2020 return.
3. Subsequently, submit a supplementary declaration of modification of the 2020 financial year, answer “Yes” to the question Do you have tax losses from previous years to apply? located in the “Determination” section
4. The “Loss from previous years that are applied in the year” field will be enabled, which will contain a “Capture” button, select it and a section will be enabled where you must record the updated amount of your tax losses from previous years so that they can be generate the remaining balances pending application of your tax losses.
5. Send your return, wait 24 hours for the information from your 2020 return to be reflected in the 2021 return.
6. Subsequently, enter to present your 2021 annual return, in which the amount of your tax losses will already be preloaded.
Finally, if in the annual declaration of the fiscal year 2021 you cannot apply the amount of your tax losses from previous yearswhat you must do to apply them is the following:
You must answer “Yes” to the question “Do you have tax losses from previous years to apply?” This will enable the field “Tax losses from previous years that are applied in the year” which will have a “Capture” button.
When selected, a section will be enabled that will contain preloaded the amounts of losses recorded in the statement for the year 2020. In the event that you have omitted to declare these amounts, you must present a complementary declaration of modification of the 2020 financial year, in order to record them in said declaration and with them the remnants of your losses are preloaded in the 2021 financial year.
Said loss can be reduced from the tax profit of the following 10 years until it is exhausted, and when in one year it is not reduced, and it may have been done, the right to do so in subsequent years will be lost and up to the amount in which it might have been. effected
