Costa Rican residents who are taxpayers and are involved with real estate capital income, should pay attention to the filing process with the Form D125 of Real Estate Capital Income.
By making the corresponding declaration, each Costa Rican citizen can take charge of the tax obligations that correspond to him on a monthly basis, considering the properties he owns. All this according to what is established in the tax regulation.
Read on and learn more about this much-needed procedure and avoid making last minute declarations and thus avoid problems with the system.
How to Fill Out Form D125 for Real Estate Capital Income?
In this section you will learn how to correctly fill out Form D125. Here are the indications for the correct completion of form D125:
- You must enter the web portal website of the Treasury.
- Enter the «Most used services» section.
- You must select the Virtual Tax Administration services option.
- Indicate the user data.
- Put the numbers that are on the Virtual Smart Card.
- Continue on «Declarations» that appear in the top menu.
- You must select the option of filing tax returns.
- On the screen the list of Forms is displayed, select Form D125 for Real Estate Capital Income.
- Indicate the month or period of the declaration.
- You must select Yes or No, according to the information you are going to declare.
- Enter the total figures for the income generated.
- You must put the information related to the company or natural person who has received the rent. Is the next:
- ID Type.
- Identification number.
- Name of the person or denomination or business name of the company.
- You must indicate the country.
- Also, the amount for each company or partnership.
- You must enter the data for all types of income mentioned below:
- Income from leases of real estate.
- Also, the income from the subleases of real estate.
- Income from the transfer of rights or powers of use of real estate and by constitution.
- Likewise, income from non-financial investment funds that are within the corresponding period.
- The expenses for subleases, leases, assignment or constitution of rights, make up a reduction of 15%.
- Also, non-financial investment fund expenses for the period, equivalent to an automatic reduction of 20%.
- Indicate all the income from real estate capital.
- Likewise, the withholding of payments to tax accounts.
- You must indicate the amount of interest.
- Indicate the request for compensation in relation to the amount of the balances in favor of the payment of taxes.
- In addition, you must place in the amount of the tax settlement.
- You must click and send the statement made.
Steps to follow
To make the statement in the Form D125 of Real Estate Capital Income, you must follow the steps shown below:
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- Enter the web portal of the Ministry of Finance
- You should go to the «Most used services» section.
- Then press the ATV button.
- You must enter the user data in the Virtual Tax Administration portal.
- Next, enter the Virtual Smart Card numbers.
- Click continue.
- Go to the «Declarations» section.
- You must choose the option “File taxes”.
- Select Form D125 for Real Estate Capital Income from the list displayed.
- Select the period and month that you want to declare.
- Press the «Fill form» button.
- In the Income from leases, you must enter the total amount of the income generated.
- Also enter the identification and data of the person or company that received the income.
- In the Income from Subleases, you must enter the total amount of the income generated.
- Also enter the identification and data of the person or company that received the income
- Regarding Income from the constitution or transfer of rights, you must record the total amount of income generated by the transfer or constitution of rights or powers of use or enjoyment of real estate.
- In the case of Income from non-financial investment funds, you must record the total amount of income generated by non-financial investment funds for the period.
- In the expenses for subleases, leases, constitution or transfer of rights, the reduction of 20% must be calculated.
- The deductible expenses for the period for subleases, leases, constitution or assignment of rights are calculated as a reduction of 15%.
- In non-financial investment fund expenses, the reduction of 20% is calculated.[/su_list]
What is Form D125 for Real Estate Capital Income for?
The purpose of Form D125 for Real Estate Capital Income is to mediate and facilitate taxpayers who receive income from real estate capital, allowing them to make the declarations of these income when the fiscal year ends.
What are Real Estate Capital Income?
Real Estate Capital Income are those returns derived from real estate capital. They can be those that come from the lease or the constitution or transfer of rights or powers of use or enjoyment of urban and rustic real estate, which are received during the defined period.
The Real Estate Capital Income is declared within the corresponding fiscal period, after the end of one month. During this time, the taxpayer who receives any of the incomes mentioned below must submit Form D125:
- If you receive income from real estate leases.
- Those who receive income from the sublease of real estate.
- Also, the income received from the constitution or transfer of rights or powers of use or enjoyment of real estate.
- Income from non-financial investment funds that belong to the period in question.
Who Issues Form D125 for Real Estate Capital Income?
Form D125 for Real Estate Capital Income is issued by the General Tax Office of the Ministry of Finance of the Republic of Costa Rica. It is issued through the Virtual Tax Administration System (ATV).
What is Form D125 for Real Estate Capital Income?
After the modification that occurred in the Income Tax Law, new obligations arose for all taxpayers who obtain taxed income.
This is with respect to the affidavit forms of those taxpayers who must make the declaration and pay taxes for obtaining activities that are classified as Real Estate Income.
Therefore, the tax return forms that you must use will depend on the type of income that the tax generates. In the case of Form D125 Real Estate Capital Income Tax Affidavit, lis corresponds to those taxpayers engaged in the lease or sublease of assets, constitution or transfer of rights or powers of use of real estate.
The Form D125 of Real Estate Capital Income, according to the provisions of Law 7092 called Real Estate Capital Income, obliges anyone who has real estate rentals to make the monthly settlement in relation to Income Tax.
There is an obligation to present the declaration and pay the respective tax.
After this reading, you already know how easy and simple it is to make the declaration corresponding to real estate capital income through Form D125. Do not forget it and do it on time and avoid last minute inconveniences.
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