You are looking for information on How do I know my RISE? You are in the right place. We select specific data, so that you can carry out this procedure in a simple way. In addition, that you can enjoy the benefits that RISE provides for your membership.
Here you will find, how to remove it, what are the steps to follow to manage it, who cannot remove it. Also, what are the benefits, what is RISE and its legal basis. For this reason, continue reading this article.
How do I know my RISE?
At present, the system of the Simplified Tax Regime (RISE), It has different ways to make the balance inquiry and find out your account details. It should be noted that this type of charge corresponds to the SRI (Internal Revenue Service).
Therefore, to enjoy this type of payment, you have to be registered with the SRI. Likewise, we must take into consideration that being included in this system is mandatory, since you have to be declared as a taxpayer.
Said Regime has different ways of managing and being consulted. For this reason, here we will tell you what are the guidelines to follow, to do it easily and expressly.
How to know my RISE: How to get it?
The first thing a taxpayer asks when knowing the requirements to process the RISE, is how they can acquire it. This is because, in the same way as other government procedures, a series of steps is required to carry out the entire process.
The reason is because the government has to review all the information, with the aim that there are no legal difficulties at the time of doing so. It should be mentioned that this is a procedure through which an individual is registered in the database.
Through this, it is achieved that individuals enjoy all the advantages or privileges of digital systems, provided by the Internal Revenue Service (SRI). So it is of great importance, since, through it, all the procedures can be carried out online, if necessary.
In the same way, it is necessary to name that, this is a procedure that can only be done in person, in front of the competent authorities.
Requirements and Steps to Follow to Obtain the RISE
Now, any individual who is interested in registering in this Regime, has to know what the requirements are to process in RISE at the moment. In such a way that, at this point through a list we will leave you the required documentation, to make the request and register:
- As a first requirement is that, you must be a natural person and thus be able to aspire to enter this individual Tax Regime.
- Also, you need to consign the identity card both in original and in copy, or the citizenship if that is the case.
- Moreover, you are required to record some proof of payment of a basic service, of the last three (3) months, in original and in copy.
- You must take into consideration that your income cannot exceed $ 60,000 a year, and they also have to be proven.
- It is essential that you know that you cannot perform any function that is considered as prohibited, by the government of Ecuador currently.
- In no way, during the last three (3) years, you should not have been a withholding agent in any of the states of the Ecuadorian territory.
You already have the required requirements at hand to join RISE. However, you should also know the steps to follow to carry out the procedure, in such a way that we also leave you a practical and simple guide in this regard:
- The first step is to go to one of the offices SRI (Internal Revenue Service), closest to your home address.
- When you are on the site, you have to proceed to inform the official who attends you that you are interested in managing the RISE.
- To continue, you must present each of the required requirements, which were named in the previous point.
- Once you deliver the documentation, the next step is that they will ask you for your information, only if it is needed for the diligence.
- To conclude, you just have to wait for your RISE to be awarded, highlighting that this it is the most expeditious step of the entire procedure.
It should be noted that you can pre-register, through the official website of the Simplified Tax Regime (RISE).
What is the cost of this procedure?
Recently, a new way to charge for this management was implemented. This is about adjusting to the type of user of the Internal Revenue Service (SRI), and that can be consulted in the SRI official website.
Payment can be made in any financial institution allowed by the SRI. Regarding the payment deadline, it will depend on the digit number nine (9) of the Single Registry of Taxpayers (RUC). That is, 1:10, 2:12, 3:14, 4:16, 5:18, 6:20, 7:22, 8:24, 9:26, 12:28.
All the doubts you have in this regard, such as the RISE payment method, you can clarify them in the aforementioned web portal. You should know that it is a very easy process, in addition to that you have to make monthly payments based on a fee indicated by the SRI.
Who Can’t Get It Out?
At this point we will leave you a list of the economic functions or tasks that you cannot perform, since you will be prohibited from granting the RISE (Simplified Tax Regime). These are:
- Be a representative of the Exchange.
- Carry out a type of advertising or propaganda.
- Save or deposit articles of third parties.
- Plan shows or public shows.
- Be a customs broker.
- Practice a free exercise profession that requires a university degree.
- Generate goods or provide services taxed with ICE (Special Consumption Tax).
- Sell or deliver fuel.
- Natural persons with a dependency relationship, except those that exceed $ 60,000 dollars.
- Print documentation made by graphic centers, allowed by the Internal Revenue Service (SRI).
- Carry out activities in gambling houses, casinos or bingo halls.
- Be in business as a real estate broker.
- Leasing movable and immovable property.
- Agricultural activities.
- Extract or sell products of metallic mineral origin.
How to know my RISE: Benefits
Surely, you are curious about the benefits that RISE grants to its affiliates, in addition to being so well known by many individuals, who switch to this Tax Regime. In such a way that, below we leave you all the advantages or benefits that RISE offers you:
- No statements are made: This advantage foresees some consumptions when completing forms or hiring a manager, to do the diligence.
- No bill deliveries: Receipts or sales vouchers are delivered, allowed by the SRI. The obligatory nature of the expedition is from $ 12 dollarsIf the other requires it, then receipts for any amount can be issued.
- Does not imply withholdings: This is due to the fact that, as invoices are not delivered, then neither income tax nor VAT withholdings are used.
- No accounting records: Keep the books it is not mandatory.
- Profit for affiliation with the (Ecuadorian Social Security Institute (IESS): That is, for each worker who is affiliated with the IESS, 5% of the amount will be deducted, and thus reach a 50% discount.
- To pay the taxes: This implies a fixed amount every month, which depends on the annual income. Likewise, it can be paid only once in advance.
What is RISE?
The RISE (Simplified Tax Regime) is a voluntary registration system. Its main objective is, replace the payment of Income Tax and VAT, through monthly installments, which contributes to the adaptation and improvement and tax behavior in Ecuador.
At the same time, it reduces the work of different organisms of the public administration, which are in charge of organizing, the types of payment already previously established. In addition, it has been observed that this new collection method is much more optimal.
What is the legal basis for RISE?
The legal basis of RISE is found in the laws, regulations and resolutions that we mention below:
- What is established in the Articles 66 and 300 of the Constitution of the Republic of Ecuador.
- Articles 2 and 9 of the Law for the Creation of the Internal Revenue Service.
- Articles 115, 116, 119, 120, 121, 124, 125, 126, 127, 128, 129, 130, 131, 132, 133, 134, among others, of the Tributary Code.
- Articles 97.1 and those that follow of the Internal Tax Regime Law.
- Articles 215 and those that follow of the Regulation for the application of the Law of Internal Tax Regime.
- Resolution No. NAC-DGECCGC10-00013.
- Resolution N ° NAC-DGERCGC16-00000155.
- Resolution No.NAC-DGERCGC16-00000509.
- Resolution N ° NAC-DGERCGC19-00000064.
How do I know my RISE? It is a subject of great importance for the citizens of Ecuador. It is listed as one of the most effective regimes, for all those who pay their taxes in Ecuadorian territory.
Thanks to RISE, it is possible to make these payments without having financial problems. This will depend on the area that is being worked on. We wish you luck with your procedure.
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