- Affiliates must return tax incentives if they withdraw voluntary pension funds early.
- Pension operators will be jointly and severally liable to the Treasury for benefits not reimbursed.
The "Regulations for the application of exemptions for contributions to the voluntary supplementary pension system and for the refund of tax benefits for early retirement" were published by means of the "Regulations for the application of exemptions for contributions to the voluntary supplementary pension system and for the refund of tax benefits for early retirement".
Executive Decree No. 44932-H, which repeals Decree No. 34474-H of March 5, 2008.
This new regulation establishes that members who have benefited from tax exemptions for contributions to voluntary pension funds must return such incentives proportionately if
early withdrawals. It also regulates the procedures through form D-407, the deadlines to revoke applications, and the obligations of pension operators as withholding agents before the tax authorities.
Tax Authorities. Special rules are also contemplated for tax benefits enjoyed in 2003.
The decree also strengthens tax auditing through electronic tools and grants the Tax Administration and SUPEN the power to determine and supervise the amounts that must be
reimbursed. The operators shall be obliged to keep detailed documentation and shall be jointly and severally liable in case of default, unless it is proven that the member has already made the payment.
The decree will enter into force 60 calendar days after its publication in La Gaceta, during which time the previous regulations will remain in force. Operators will have to use this time to adapt the previous
its IT systems and internal procedures in accordance with the new guidelines.
ICS has a specialized team that can advise employers, HR departments and accounting areas on the correct application of the new regulations, calculation and control of incentives.
and in the implementation of compliance processes. If your company requires legal technical assistance on this subject, we are at your disposal to support you.