The SRI is ready for tax remission 2018

Ecuadornews:

Two million taxpayers can benefit from the Law of Productive Development. The entity will provide forms of payment online. Taxpayers who want to avail themselves of the remission of interest, fines and tax surcharges may do so once the Productive Development Law is published in the Official Registry.

The Internal Revenue Service (SRI acronym in Spanish) ensures that the processes are ready to begin. It would tentatively be from this August 20.

The minimum collection estimated by this voluntary measure is $ 774 million until 2020. This year, $ 602 million would be recovered; in 2019, $ 115 million; and $ 57 million in 2020. Galo Maldonado, national legal director of the SRI, clarified that in order for interest, fines and surcharges to be forgiven, the debtor must cancel the total outstanding amount and desist from administrative and judicial challenges.

The taxpayer may not initiate subsequent legal actions on the debts canceled under remission. The process will be applied in two groups. The first is the large taxpayers, members of economic groups and taxpayers who must pay the total debt within 90 days from the publication of the law.

The second group, which includes micro, small and medium-sized companies, will be able to pay their debt or request a payment plan that will include monthly payments within a period of two years.

Mauricio Lara, director of collection and assistance to the citizen of the SRI, explained that the benefit acceded by taxpayers with tax returns overdue or due until April 2, 2018. In the case of the installments within the Simplified Tax Regime (RISE) will forgive the installments due until the date of publication of the law. Pending payments for vehicle registration are also part of the referral, but cannot access payment facilities.

With the presentation of the registration of the vehicle, the debt in the entire network of financial institutions in the country can be canceled. The SRI will also enable an online payment system that will accept all the credit and debit cards that circulate in the country.

The request to access the payment plan can also be managed in a virtual way. In total there are two million taxpayers who can access the referral. The global tax debt is $ 4,700 million. (I)

Source: https://www.eltelegrafo.com.ec/noticias/economia/4/remisiones-leyfomentoproductivo-ecuador