\u27a2 The first partial payment of income tax is due no later than the last business day of June.<\/p>\n
Pursuant to Article 22 of the Income Tax Law (Law No. 7092), all taxpayers liable for this tax must make three partial payments on account of the annual tax, corresponding to the current tax period. For those who maintain the ordinary fiscal closing as of December 31, the partial payments must be made in June, September and December, while for taxpayers with special fiscal periods, the payments must be made six, nine and twelve months after the closing of their fiscal year.<\/p>\n
\u2756 The amount of the partial payments is calculated on the 75% of the tax determined in the immediately preceding period or the average of the last three fiscal periods, using whichever is greater. This amount is divided into three equal installments.
\n\u2756 In the case of taxpayers with less than three returns filed, the base will be determined according to the periods available.
\nIf it is the first time that they file a tax return, they must present a reasoned estimate of profits in January of the corresponding year, otherwise the Tax Administration may calculate it ex officio.<\/p>\n
Those who have credit balances may use them to offset these payments through form D-110 in the ATV platform, provided that there is an adequate reconciliation and traceability of such balances. The regulations also allow requesting, upon justification, the elimination or reduction of partial payments, when there is extraordinary income in previous periods or when reasonably demonstrable tax losses are projected for the current period. These requests must be submitted before the due date of each installment.<\/p>\n
At ICS we have a multidisciplinary team specialized in taxation and tax compliance. We can assist you in the technical calculation of your partial payments, in the correct application of credit balances, as well as in the preparation of requests for reduction or elimination, in accordance with current regulations. We are at your disposal to provide you with comprehensive and strategic advice.<\/p>\n