Wednesday, 22 February 2023 13:36

What income must taxpayers declare when filing their income tax returns?

Written by Evelyn Alas

If you are one of those who are about to file your income tax return, in this Dinero.com.sv article we explain what points you should take into account.

The Ministry of Finance has already opened the process for this procedure through the portal of the Dirección General de Impuestos Internos (DGII), where you can access with your Número Único de Identidad (DUI) and password.

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Enter the section to declare your income and fill in all the data requested by the document, in it all the income obtained is detailed, that is to say, products or profits registered by the persons either in cash or in kind and coming from any kind of source, such as, for example: work, business activity, capital investments and in general any product, gain, benefit or profit of any origin.

For individuals the deductions allowed are US$800 for medical expenses and US$800 for education expenses. As well as business expenses, in case they declare miscellaneous income.

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It is also convenient to verify that the value of the Instituto Salvadoreño del Seguro Social (ISSS) and Administradoras de Fondos para Pensiones (AFP) reflected in the declaration suggested in the portal of the Ministry of Finance coincides with the proof given by your employer.

The Renta en Línea service has the information submitted by the Withholding Agents, which makes it possible to establish the taxable income subject to withholding that must be declared or included in each return and filed online.

The deadline for the return is monday, may 2 and it is important to remember that the ISR filing is only through the digital system, which brings important benefits for the taxpayer: Reflects accurate income and income withholding information, reported by withholding agents on behalf of the taxpayer, indicates whether or not obliged to file return, availability of access 7/24.

 

Translated by: A.M