How to solve tax loss problems in your annual return? This says the SAT – El Financiero

Like every year, the moral people (and physical) are required to compliance of the Annual statement. The Service tax administration (SAT) reported that deadline to present corresponding to the 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 It 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).

Recommendations on tax loss

The SAT gives a series of recommendations to make your annual declarationWhere it gives you a number of solutions to problems related thereto, in a document called “Annual Statement for 2021. FAQ corporations’.

At section of tax loss says that in the annual return for the year 2021 pending tax losses are not displayed applying from previous years, which were declared properly in the year 2020. How can I visualize in my statement?

The SAT document says that in the question Do you have tax losses from previous years to apply? located in the “determination” sectionNeed to return to answer that question by selecting one of the options answer “no” and then answer “yes”, this will make Update prefilled 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 declaration for the 2019 financial year, but that is not reflected in the 2021 declaration, how can it be applied in the company’s declaration?

The answer is that if your annual statement 2019 result was a tax loss, you should check whether is was registered in the field “Tax loss for the year”located in the tax determination section. If you do not see it reflected in this field and instead look at the field “Fiscal profit for the year” “0”, perform the following procedure for your loss of the 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. enable the “Loss from previous years that apply in the exercise” field which will contain a button “Capture”, select and a section where you must register the updated amount of your tax losses from previous years you will be enabled for that generate outstanding balances remaining to apply for your tax losses.

5. Make your statement sending wait 24 hours for the information in your statement 2020, is reflected in the 2021 statement.

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 can not apply the amount of your tax loss carryforwardswhat 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.

In the select, a section that will contain pre-loaded will enable the amounts of losses in the declaration of 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.

This loss can be reduced from the taxable income of the following 10 years until exhausted and when an exercise does not decrease, and may have, be forfeited to do it in subsequent years and up to the amount that could have executed

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About Alex Marcell

He likes dogs, pizza and popcorn. Already a fanboy of Nintendo and Sony, but today throws anything. He has collaborated on sites and magazines such as GameBlast, Nintendo World, Hero and Portal Pop, but today is dedicated exclusively to Spark Chronicles.

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