Income Tax Form for Companies: Format, Filling and MORE

7 minutos de lectura

Next, we will provide you with information related to the Income Tax Form for Corporations, which serves to collect the resources provided by legal persons (companies) in the form of taxes. These contributions are used to finance the works and projects that are administered by the government.

Paying taxes makes Ecuadorian society the owner of its future. Well, with this, they are investing in the planning of economic and social development. This effort not only serves to create better common living conditions, but also to reaffirm the commitment to the well-being of society.

Keep reading the information that we present below that we are sure will be of interest to you!

Format of the Income Tax Form for Corporations

The Income Tax Form for Corporations is one of the services enabled online to facilitate tax compliance. This not only reduces costs, but also allows you to personalize the declarations according to the economic activity.

Additionally, payment can be made online, thereby reducing costs and risks associated with the logistics of paying at the box office. These innovations also make it possible to increase collection and contribute to strengthening the tax culture. This is due to the possibility of having greater control to avoid tax fraud.

If you want to get the version of the Income Tax Form for Corporations in EXCEL format (.xlsx), press HERE.

Filling in the Income Tax Form for Corporations

The first thing we must know is that the SRI has available the ONLINE INCOME TAX FORM FOR CORPORATIONS. With which we must first access your SRI page and select «SRI online» in the option «Service channels».

Once the option is selected, we select in the left side menu the options in the following order:

  1. Declarations
  2. Tax return
  3. Declaration and submission of declarations

Once we have carried out the previous sequence, a window will appear in which we must authenticate with the username and password that we have registered in the SRI. Once authenticated, the system will show us the forms that are available online.

The next thing we must do is select the Income Tax Form for Corporations and fill it from 4 simple steps:

Step 1: Select the period to be reported

On this screen you only have to select the period you want to report and press the «Next» button.

Step 2: Answer the questions necessary to generate the form

A group of questions will appear, helping you to set the necessary boxes so that you can make your declaration. To complete this step you must:

  1. Answer the indicated questions. Note that there are questions that are answered automatically without the option to change them, because the system already has that information.
  2. Click on the option «Load declaration file» located on the upper right side. This option allows you to upload a file with your return information. Remember this option ONLY needs to be selected once all the questions have been answered.
  3. Press the «Next» button

Below is the form that you must fill out to complete your return and subsequent payment of taxes. Remember that this form is generated from the answers to the questions you just answered.

Suggested values ​​and automatic calculation of fields

You may notice that there are fields with suggested values ​​and with information already calculated. That is because the system has prior or third-party information that allows it to carry out such an operation.

With the information declared from the previous period, values ​​are suggested of the following fields:

  • Balance to be settled in next year’s return (box 876)
  • Advance determined by the taxpayer for the next year (box 879)

Note that the values ​​carried over from the above declaration must be equalOtherwise, the system generates a revision alert.

The cells that have an automatically calculated value are:

  • Advance next year
  • First and second installment of the advance
  • Tax caused

Step 3: Delivery of tax information

Once the information in the boxes of the form has been completed, a box called «Tax information» is presented. Where the following information is detailed:

  • Income and expenses from Value Added Tax (VAT)
  • Donation income
  • Financial performances

This information is presented for the purpose of allowing you to verify the information provided, so that you feel confident to proceed with the statement. If you consider that you are missing information to complete the form or you need to verify, you can click on the «Save draft» option.

This will allow you not to lose the information that you already provided while verifying or locating the information that generates doubt.

Once the information is verified and completed click on the «Next» option to display the summary of the information entered. On this screen you can also review the detail of fines or interest that has been generated if this is the case.

If you need to enter your accountant’s data, you must answer «yes» to the question «Do you require an accountant’s signature for this statement?» Once the data is verified and you are sure of the information, press the «Next» button to complete this step.

Step 4: Payment

In this window you will find the available means to cancel your tax return, among which are:

  • Central Bank securities
  • Dematerialized credit notes
  • Credit notes with exception
  • Credit notes with tax on the exit of foreign currency
  • Credit cards, web button or windows of financial institutions
  • Debit agreement (to own account or to third parties)

If you select any of the first three available means, the system will automatically enter the pending value to be covered. However, this information is editable and you can place the value you want to pay with any of the means of payment.

If you select the debit agreement option, the account numbers that you previously entered will be shown to you. If you do not have a registered bank account, the system will allow you to enter it at that time.

To make the payment you must press the «Accept» button. In this option the system will allow you:

  • Print your electronic payment receipt («Print receipt» button)
  • Print your declaration («Print» button)
  • Select a new declaration («New declaration» button)

Declarations without transactionality

If you do not have information to declare in the period to declare, you must carry out the following procedure:

  1. Select the fiscal period and press the «Next» button
  2. Answer NO to the first question «Do you need to report values ​​in your return for this period?». If the return is late, the system will generate two additional questions that you must answer to continue. Press the «Next» button
  3. The form will be presented to you with balances at zero (0), except in cases where the return is overdue. If this is the case, the system will automatically generate financial penalties. Press the «Next» button
  4. If the return is on time, the system will confirm that your return was processed satisfactorily. If, on the other hand, the declaration is overdue, then you must select the payment methods.

What is it for?

The Income Tax Form for Corporations It is used for companies to declare and pay income tax. The Internal Revenue Service has enabled this procedure so that it can be submitted online.

For which, legal persons must declare and send the Income Tax Form for Corporations through the institutional website. If you want more information about it, click HERE.

Internal Revenue Service (SRI)

The Internal Revenue Service (SRI) is an autonomous body of the State of Ecuador, which has been in operation since December 2, 1997. The principles on which the SRI is based are justice and equity, to develop its main function of administration of taxes.

Due to the high tax evasion that occurred in Ecuador, this service was created in response to the almost total absence of a tax culture. Since the creation of the service, it has maintained independence for the formulation of its policies and management strategies.

SRI’s management in recent years has shown a significant increase in tax collection. The collection figures reached by the SRI are not the result of tax reforms, but rather an increase in the efficiency of its management.

Management improvements are supported by the implementation of new high technology systems, development of electronic billing products and online services. This has also contributed to reducing indirect costs to citizens and strengthening the tax culture.

What is the Corporate Income Tax Form?

The Income Tax Form for Corporations, is a form used to declare the value added tax (VAT). This form should be used by those legal entities that are not withholding agents.

That is, this form is for use by legal entities that are required to pay taxes and are required to keep accounting. For example, limited liability companies (Cía. Ltda.), Public limited companies (SA) or mixed economy companies.

Thanks for reading us!


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