During 2022, they approved a series of regulations with an impact on the business sector, including some related to temporary exemptions in tax matters, such as the reduction of the IGV for mype companies in the gastronomy and tourism sector. However, other standards are about to expire.
The tax lawyer Miguel Carrillo, detailed what are the three tax benefits that expire on December 31 of this year:
Tax benefits provided for in Law No. 30309
The Law that promotes Scientific Research, Technological Development and Technological Innovation (R+D+i) was modified by Emergency Decree No. 010-2019 that provided for the extension of Law No. 30309 until December 31, 2022.
Said norm recognizes the expense made in these activities, such as scientific research projects, technological development and technological innovation, qualified and authorized by the Concytec and, in addition, an additional deduction equivalent to a percentage of the expense in innovation, which can be 50%. , 75% or up to 115%.
The Congressional Economy Commission approved an opinion that modifies the deduction rates and extends the benefit until December 31, 2025. Said opinion passed this December 21 to the Plenary Session of Congress and would be close to its vote.
The text would give the green light for taxpayers who spend on projects related to the standard to access deductions of up to 240%.
Exemptions contained in Appendices I and II of the IGV Law.
Through Legislative Decree No. 1519, the validity of the exemptions contained in Appendices I and II of the IGV Law was established until December 31, 2022.
Faced with this, the Ministry of Economy and Finance (MEF) approved a bill to extend the validity of the norm until December 2025. Said tax benefit covers vegetables, legumes, beans and fruits and inputs for agriculture (fertilizers and fertilizers) and animal husbandry; and it will also reach the transport, communications, housing, culture and foreign relations sectors.
The opinion was placed on the agenda of the plenary session on December 16 and its approval is expected before the expiration date.
Additional deduction of fourth and fifth category income expenses.
Through the Second Complementary and Final Provision of Law No. 31103, published on December 30, 2020, it was established that for the taxable years 2021 and 2022, the deductible expense will be 50% of the services of tourist guides and services adventure tourism, ecotourism or similar, as well as artisan services, as long as the requirements set forth in the regulations are met, when the service provider generates third-category income.
Likewise, it was established that for the years 2021 and 2022, 25% of the amounts paid for tourist guide services, and adventure tourism, ecotourism or similar, when the service provider generates fourth category income.
On the other hand, it was established that for the years 2021 and 2022, 25% of the amounts paid for bar, restaurant, lodging, discotheque services, services included in ISIC 55 and 56 respectively, are deductible as an expense, as long as when they are supported by an electronic sales receipt.
“If the percentage of deduction as an expense is not extended, for fourth and fifth category income generators of the services in reference, the percentage of deduction for tourist and artisan services would be 30% contained in the receipt for fees issued by said service providers, and 15% for consumption in restaurants, bars, discotheques and lodging”.
While the application of the deduction of up to 25% of the deductible expenses for a natural person who generates fourth-category income for consumption in a bar, restaurant, disco supported by an electronic sales receipt, would return as of January 1, 2023, to the percentage of 15%.