The Internal Revenue Service (SRI) established the cadastre with 789,806 popular and entrepreneurial businesses.
Since January 1, 2022, the so-called Simplified Regime for Entrepreneurs and Popular Businesses (RIMPE) has been in force. This regime includes individuals and companies with annual income of up to $ 300,000; that is, what is considered as micro-businesses.
You do not have to do any type of procedure to be part of the RIMPE. The cadastre of taxpayers is prepared by the Internal Revenue Service (SRI).
The first cadastre, which takes into account the tax information as of December 31, 2021, is already posted on the institution’s website. It can be reviewed at this link.
The new system, which was approved as part of the tax reform of the Government of Guillermo Lasso, establishes two types of taxpayers. On the one hand, the so-called popular businesses with income of up to $ 20,000 a year.
These businesses will pay a fixed value of $ 60 as annual income tax. According to the cadastre, 645,887 people and companies are considered in this classification.
On the other hand, the second group of taxpayers are the so-called ventures. In this case, the annual income ranges from $ 20,001 to $ 300,000. The SRI has established that 143,919 entrepreneurs they are part of this group.
The payment of Income tax It is given by a progressive table that establishes percentages that go from 1% to 2%.
The cadastre, with the list of popular businesses and ventures, will be updated every week by the SRI.
What are the obligations of each type of taxpayer?
The popular businesses they will only have the obligation to pay the fixed fee of $ 60 per year of Income tax. You do not have to file a VAT return or be a withholding agent.
Likewise, they also have the obligation to issue invoices or authorized sales notes. If at the time of entry into force of the RIMPE, the taxpayers have invoices or sales notes that are still valid, they may continue to be used as long as they incorporate the legend “Popular Business Tax – RIMPE Regime” manually, by stamp or any form of Print.
In the case of ventures, the payment of income tax will be annual and the VAT return will have to be done every six months.
If at the time of entry into force of the RIMPE, the entrepreneurs they have valid invoices, they can continue to be used as long as they include the legend “Taxpayer RIMPE Regime” manually, by stamp or any form of printing.
Who is excluded from RIMPE?
Although it has income of up to $ 300,000, the SRI has established 11 cases in which the company or the person cannot be included in the RIMPE:
1.- Activities related to construction, urbanization, subdivision and other similar contracts.
2.- Professional activities, mandates and representations.
3.- Transport activities.
4.- Agricultural activities.
5.- Activities of fuel marketers.
6.- Activities in a dependency relationship.
7.- Capital income.
8.- Special regimes.
9.- Foreign direct investment and activities in public-private partnership.
10.- Hydrocarbon sector, mining, petrochemical, medical and pharmaceutical laboratories, basic industries, financial, insurance and Popular and Solidarity Economy.
11.- Activities with gross income greater than $ 300,000 in the previous year and who
are registered in the RUC without registered economic activity. (JS)
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