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Three weeks to start the calendar with the latest deadlines set by the Dian to submit the income statement as a natural person, but as this year marks the first time the schedular system, it is better to start doing the process With anticipation, even accountants believe that the changes that the tax task has from this year require time to be digested.
According to Dian calculations, there will be 2.6 million people who will file a tax return. in 2018, by reporting the revenue earned in 2017, which promises an estimated collection of 2 billion pesos, in addition to what Colombians have already paid each month as a withholding tax (income tax paid from 39, advance)
Here is all you need to know as a worker on the schedular system
What is it?
This is a system used to clbadify income according to the origin. in Les cedulas are the groups in which these incomes are clbadified as being taxed at different rates and applying tax advantages separately
How many are there?
Five: labor income, pension income, capital income, non-working income, and dividend and dividend income.
What were they made of?
The cedulas seek an order of the origin of the income. The system ends with the idea of taxing people (employee, own account). It focuses on the taxation of income
Does each schedule have a different form?
A form, 210, includes the format that separates the debugging (deductions and exempt income to obtain the tax base) of each of the five rents.
Does the worker apply only one schedule?
In general, the work income certificate is applied, but if the worker has earned income other than income from work in 2017, he or she must use other certificates depending on the type of income obtained.
For example, having a pension and continuing to work. Then you must declare your income in two separate schedules. Even if the marginal rates are equal, the tax benefits are different because they start from the idea that the pensions are exempt (except the ones that are very high) and that the worker has an exempt working income of 25%, for example
And if he has an income from employment and receives income for rent (rent in capital)?
He must also use two different schedules. In the labor market, you can include deductions + exempt income, which can not exceed 40% of income. In the second, deductions + exempt income, but can not exceed 10% of income.
Moreover, for the value of the rent that the taxpayer will declare, he can subtract the costs that he incurred to generate this income, such as the repair of the electrical system, for example. In the case of the worker, it is based on the idea that for the generation of his income, it does not entail costs.
In addition to salary, what turns into income from work?
Includes commissions, fringe benefits, per diems, entertainment expenses, honoraria, compensations for co-operative badociational work and, in general, personal service compensation
Is there any compensation? there still valid deductions to decrease the basis of payment of the tax?
Yes. Deductions for compulsory social security contributions, dependents, housing acquisition rights, prepaid medicines, exempt income of 25 per cent and other exempt work income are force. Each has a ceiling (see Article 206 of the Tax Law)
What is the difference between taxable income and annual income?
The net taxable income results from the annual income of the worker and from the subtraction of income that does not constitute income. income (mainly social security contributions), deductions and exempt income.
What other information is provided on the form?
The wealth of the taxpayer, that is to say, he has a house, an apartment, a farm, a car. You must also write what you need. The result of subtracting what you have and what you owe is called liquid equity
If I have a lot, then I do not pay income tax.
Having a lot of debt does not mean you will not pay tax. Among workers, income is taken into account mainly. However, there is a concept called presumptive income, in which it is presumed that a person's income represents at least 3.5% of net badets (badets less liabilities). Always compare the income of the alleged income and the result of the use of the card clearance, and choose the larger of the two to pay the income tax.
Are layoffs registered? income
Yes, as of the 2017 taxation year, the worker's severance pay shipped by the companies to the severance pay must be considered income on the income tax return natural persons. In other words, it is considered an income regardless of the fact that they have been withdrawn.
However, the law considers this income exempt when the worker has an average monthly salary of up to 11,605,650 pesos.
From this amount, they begin to be taxed in part according to section 4 of section 206 of the tax law.
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