Below, we provide you with information related to the SRI Form 102, which is used to collect the taxes paid by natural persons obliged to keep accounts. These contributions are used by the government to finance the works and projects under its administration.
It is important that you know that Paying taxes makes the Ecuadorian citizen the owner of his future. That is to say, with this you and others like you, invest in the planning of economic and social development. Which not only serves to create better common living conditions, but also to reaffirm the commitment to the welfare of society.
Do you need help filling out the form? Keep reading, we can help you
SRI Form 102 Format
The SRI Form 102 is one of the services enabled online to facilitate tax compliance. This not only reduces costs, but also allows you to customize the statements according to your economic activity.
Additionally, the payment can be made online, which reduces your 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.
Likewise, online returns allow the gathering of relevant information in order to minimize the possibilities of tax fraud. If you want to get the version of the SRI Form 102 in EXCEL (.xlsx) format, press HERE.
How to fill out the SRI Form 102?
The first thing you should know is that the SRI has the SRI Form 102 online to facilitate the declaration. To access the form, the first thing you should do is go to your SRI page and select “SRI online”.
Later, log in with your RUC number and the password with which you affiliated with the page. Once the session is started, we select in the left side menu the options in the following order:
- Tax return
- Preparation and submission of declarations
A series of tax return forms will immediately appear on the page. You must select the Natural Income Form. Income for individuals and undivided estates and fill it out from the following steps.
Step 1: Select the period to be reported
In this window You only have to select the period (year) that you want to report. That is, select the previous tax period that you want to declare. Once selected, press the «Next» button.
Step 2: Answer the questions necessary to generate the form
Then a group of questions will appear, which will help you establish the necessary boxes so that you can make your declaration.
To complete this step you must answer ALL the indicated questions. Keep in mind that in the question «For the period to declare, are you obliged to keep the accounting?» you must answer that NO.
Once the requested questions have been answered, a window will open with four (4) areas in which you must make your statement considering:
- Taxable income from work and capital that are not recorded in accounting
- Other deductions and exemptions
- Tax summary
Taxable income from work and capital that are not recorded in accounting.
In this area, the fields are expanded with several boxes that you must fill in with the requested information. You must have special consideration in the following fields:
- Business activity (boxes 611 and 631). If you have business activity, enter the total of your annual income, as well as the total of your annual expenses that you incurred.
- Non-business activity (boxes 612 and 632). If you received income from free exercise professional activity, enter your total annual income and expenses in these boxes.
- Leasing of real estate (boxes 64, 614 and 634). If you have income from rental of real estate, you must enter the value of the appraisal, the income and the total expenses related to the property.
Continue with filling in the remaining fields, according to the information that applies to you and is requested. Once completed all relevant fields With your declaration, verify that the data is correct.
If you are a permanent employee, check the information contained in boxes 741 and 751 (wages and salaries of employment in a dependent relationship). This information is automatically generated from previous information provided.
Other deductions and exemptions
In this area you will find the detail of the personal expenses that you incurred during the year, related to:
- Education, art and culture (box 773)
- Health (box 774)
- Food (box 775)
- Housing (box 776)
- Clothing (box 777)
Continue with filling in the remaining fields, according to the information that applies to you and is requested. Once completed all relevant fields With your return, verify the information for other tax-exempt income.
In this area, verify the amount of the taxable base, with which the tax to be paid is calculated. If you have paid advances, tax credits or withholdings prior to filing, verify that they are correctly reflected. To do this, check the value of the boxes that apply to you from 840 to 853.
Once the data is completed, the values of the tax to be paid are displayed. It is possible that the amount to be canceled is 0. This occurs because the taxable base does not have the required minimum or because there are advance payments greater than the tax caused in the period.
Once all the information has been verified, press the «Next» button to view a summary of your declaration. You should review the information that is displayed on the screen again, as that will be your final statement.
When be sure of the data, press the «Next» button to display the information related to the means available to cancel your tax return.
Among the options to cancel taxes 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 place the pending value to be covered. However, this information is editable and you can enter 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)
Keep in mind that if you obtained income greater than the basic fraction deducted from income tax, you must declare compulsorily. Avoid penalties and fines.
Usefulness of SRI Form 102
The SRI Form 102 It is used for natural persons obliged to keep accounts to declare and pay income tax. The Internal Revenue Service has enabled this procedure so that it can be submitted online.
For which, natural persons must declare and send the SRI Form 102 through the institutional website (www.sri.gob.ec)
If you want more information about it, click HERE.
Differences from Form 102A
The difference is that the Form 102A is used for natural persons who are obliged to keep accounts to declare their taxes. Meanwhile he SRI Form 102 is designed for those Natural persons that YES are obliged to keep accounting.
All those natural persons that operate with own capital greater than $ 180,000 are required to keep accounts. Similarly, those people who generate annual income above $ 300,000 are also required to keep accounting.
If you want more information, 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 carry out its main function of tax administration.
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 reduce indirect costs to the citizen and strengthen the tax culture.
What is SRI Form 102?
The SRI Form 102, is a form used to declare the value added tax (VAT). This form must be used by those natural persons obliged to keep accounts who are not withholding agents.
In other words, this form is for use by individuals with initial operating capital greater than $ 180,000 or annual income greater than $ 300,000.
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