The fulfillment of the tax obligations is a key aspect for the success of companies because it allows them to operate within the legal framework and avoid problems with the National Superintendence of Customs and Tax Administration (Sunat).
Mihael Damas, head of the corporate legal area at Estudio Fuentes, said that companies that adequately comply with these obligations have greater possibilities of growth and expansion in the market because they have a solid financial base and a good tax record.
The tax expert shared the obligations that every legally constituted company must comply with before the Sunat.
Get the RUC
The RUC is an identification number granted by Sunat to natural and legal persons who are obliged to register in the Taxpayer Registry. Registration in the RUC is the first step to be able to carry out any tax procedure.
To obtain it, you can submit an application online or in person at the Sunat offices. This must be accompanied by the required documents such as the DNI or the public deed of incorporation of the company.
“Once the RUC is obtained, it is important to keep it updated in the face of any changes that occur in the company, such as changes of address, legal representative, economic activity, among others.Damas points out.
Issue payment vouchers
The issuance of payment vouchers is a tax obligation that all companies that carry out operations taxed with the General Sales Tax (IGV) or that are obliged to keep accounts must comply with.
“They can be invoices and sales receipts. These documents must contain detailed information about the operation carried out, such as the total amount of the sale, the IGV, among others. In addition, they must be issued electronically through the Sunat electronic voucher issuance system.Add.
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Declaration and monthly payment of taxes:
It is important to declare and make the monthly payment of the taxes that correspond to your economic activity. The main ones are: the General Sales Tax (IGV) and the Income Tax (IR).
The IGV is a tax that taxes the sales of goods and services in the country. The current tax rate is 18%, although there are some exceptions for certain products and services.
The IR is a tax that taxes the income obtained by the company in the fiscal year. The tax rate varies according to the income category in which the company is located. For example, companies that are in the third category of income have a tax rate of 29.5%.
“It is important to take into account that there are some special tax regimes for certain types of companies, such as micro-enterprises and small companies, which have a lower tax burden.”said the specialist.
Accounting books:
Companies must keep the mandatory accounting books, in which they must record all the operations they carry out. The mandatory accounting books are the Daily Book, the General Ledger and the Inventories and Balances Book. These books can be kept in physical or electronic formats, as provided by the Sunat.
Withholdings and perceptions:
In some cases, companies may be required to withhold or collect taxes from third parties. Withholdings are a tax obligation in which a company must withhold a portion of the tax that must be paid by a third party, such as a supplier or worker.
On the other hand, perceptions are a tax liability in which a company must collect additional tax from a third party, such as a customer, at the time of sale.
“These tax obligations must be declared and paid monthly before the Sunat. There are also the declarations, such as the annual Income Tax, or the Operations with Third Parties”, he stressed.
If you require more details about the payment of taxes or accounting advice, you can write to: [email protected]call 01 480 2660 and visit the website www.ef-legal.com
