Form 500: How to Fill It Out, Adjustments and MORE

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The Form 500 It is a document in which some data about the public services that are shown in the Income Statement of the institution are transferred. Likewise, it corresponds to the period of economic management, generally 12 months. In this way, each of the aspects that make up said form are governed by law.

In the same way, it is essential that you carry out this procedure regarding the business tax. With which, you must take care of each of the aspects that limit it and be very careful with its filling process. That is why, if you are interested in proceeding with your request, continue reading this information. Next, we show you how to fill it and more.

How to fill out Form 500?

First of all, the main aspect that you should know is how to fill the Form 500. Thus, it is necessary that you take into account each of the steps to be executed in order to download it. Later, you will proceed to fill in all the data suggested by the Profit Tax document. With which, the filling process is as follows:

  • First, you must enter the National Tax website by doing click here
  • Then, it is essential that you access the option of Virtual office located in the available alternatives in the center of the home screen
  • Next, you must enter your suggested data
  • These correspond to the type of user from which you identify yourself, tax identification number, username and respective password

  • Indicates the code suggested by the system on the screen and click on the Accept option to continue with the procedure
  • Once you have done the previous steps, you must click on the alternative of Forms
  • Then, you must specify the period of time for which you want to make the respective declaration
  • Select the type of form you want, that is, Form 500 and press the Declare option
  • Finally, the Form requested in this process will appear on your screen

Form 500 format

Likewise, it is essential to tell you, in this sense, what the format of the Form 500. Also, these guidelines can help you to recognize which are the personal information and of the sworn declaration, which you must detail in it. With which, the necessary aspects that you must fill in, once you start the process, are the following:

Personal information

  • Names and surnames of the taxpayer
  • Tax identification number
  • Management Date

  • Invoice
  • Original affidavit
  • Specify the specific time period or exact months

Basic Aspects of the Affidavit

  • Administrative Resolution Number
  • Form
  • Number of order

Determination of the final Balance in Favor of the Physicist or the Taxpayer

  • Accounting Utility of Financial Statements Management
  • Accounting Loss of Financial Statements Management
  • Total non-deductible expenses
  • Total regularizations to boost deductible expenses
  • Total amount of untaxed income

  • Consolidated total of amounts canceled during management for activities partially carried out in the country
  • Adjustments when using the enforceability criterion in the case of installment sales
  • Result before offsetting losses
  • Loss compensation
  • Tax settlement

Adjustments to the Eligibility Criterion for Form 500

In this sense, we can mention that in the case of adjustments in the enforceability criterion, they are governed by several aspects. Thus, one of them is that the profits from the sales to a certain term that are going to be deferred for the next fiscal management must comply with a specific element.

With which, in accordance with the provisions of law 843, within article 46, an aspect is raised regarding term sales. Therefore, the benefits of these operations will be collected at the time of the enforceability correspondent.

On the other hand, it is necessary to point out another of the aspects related to this adjustment. Which consists of the profits from deferred installment sales during the previous fiscal management. That is why, in this case, you must enter the amount that has been delayed of previous financial management.

Loss Compensation and Tax Settlement

In the first place, in terms of compensation for losses, it is necessary to mention that there are three elements in which these are present. The first one is, the loss no Compensated from updated previous management. Which implies that the amount of tax loss obtained from box Cod. 1013 of the previous management form must be registered.

Then as the second point is the uncompensated loss punished raised in the 680 code that concerns it. Thus, in this it is necessary to record the canceled uncompensated loss, which is constituted by the taxpayers after the adjustment.

Next, as a third aspect referred to the compensation of losses is the uncompensated loss for the following management included in the code 1013. Also, this refers to the fact that you must enter the amount produced by the following operation (Cod. 606 + Cod. 619-Cod. 592-Cod. 680) and then add the absolute value.

In the same way, it is essential to highlight what concerns the liquidation of the tax. Therefore, this is governed by the variable of the impossible net profit. Which is given by the sum of codes. 592 + code 680-code 606-code 619 (if the number is greater than zero). Also, to the tax determined, the IUE rate (25%) will be applied to code 026.

Likewise, regarding payments to accounts made in previous affidavits and on payment slips, these payments made before the expiration date of this affidavit must be recorded. Thus, if the payment is made later, it must be converted to present value on the due date.

Finally, regarding the available balance of payments from the previous period to be compensated, you can use this box if you select the compensation with the same tax and form. Like, if you enter the amount in box 747 of the form from the previous period. If you did not choose the above option, you can choose the clearing or repeat trading procedure.

Who should fill out Form 500?

  • On the other hand, the Form 500 is aimed at people who must carry accounting records
  • Also, all companies public and private of this category, including public limited companies, public limited companies
  • As well as limited liability companies and simple limited companies

  • Likewise, cooperatives, limited liability companies, collective companies, de facto or irregular companies
  • In turn, he addresses the sole proprietorship are subject to foreign registration
  • Finally, to that company or registered branch, agency or permanent establishment of any type of institution

What is it for?

Now, having mentioned each of the important points in the previous sections, it is necessary to emphasize an additional aspect. With which, this is the utility that corresponds to grant the Form 500 respectively. That is why we will point out some of its functions below:

  • It is worth noting that you need to know what form 500 is for and what its main functions are
  • The purpose of this document is to be able to determine each benefit obtained during economic activity
  • In addition, the deductions provided by law, which cover the mandatory amount of the treasury, are also considered.
  • Therefore, this is considered a resource that should be used to to get better the quality of each Bolivian citizen

What is Form 500?

The Form 500 It is a tax document that represents the payment of corporate income tax for companies that keep accounting records. With which, they obtain the income statement corresponding to the commercial period (generally 12 months). However, the end result may vary depending on changes in company activities.

At the same time, it can be useful in some steps and can be lost in others. Therefore, the filling of the Form 500. In the same way, this data is a direct payment by the taxpayer. Thus, it is one of the types of taxes with the highest monetary value. That is why, your statement must be sufficient to avoid correcting the amount.

Important aspects

  • Taxpayers must keep accounting records of their earnings and request the declaration of the Form 500
  • Thus, in accordance with the regulations of the State Tax Administration, this tax will be applied to all profits (IUE)
  • Which will be generated from financial statements adjusted in accordance with the laws and regulations at the national level
  • Therefore, this form is intended for taxpayers who keep accounting records.

  • Regardless of whether they are a public company or a private company
  • The Company’s Income Tax corresponds to the acronym IUE
  • Thus, it is at the national level, financial entity in charge of the earnings recorded in the Financial Statements
  • Which, applies the adjustments according to the law and its legal regulations in Bolivia
  • Finally, the tax is reported annually through the Form 500
  • Thus, this is only applicable to taxpayers who are required by law to keep relevant accounting records
  • Either public or private companies

Declare your business taxes in Bolivia!

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