The SRI Form 104 It is a form that is filled out online to declare the Value Added Tax (VAT) in the corresponding fiscal period. Through this tool, the taxpayer can comply with the payment of this tax, as stipulated in the tax law of Ecuador.
This time we are going to explain to you how to complete the form virtually through the website of the Internal Revenue Service (SRI). In addition, we will tell you what it is, what it is for and who is obliged to carry out this procedure.
Stay reading this article with us and find out everything you need to know about the SRI Form 104!
Completion of SRI Form 104
To start filling out this form online, you must follow four (4) basic steps. In this section we will explain in detail the procedure you must follow to make your VAT return through the SRI web portal. Pay close attention and follow the instructions exactly!
When starting your return, it is necessary that you specify the corresponding fiscal period. You can select a monthly period, entering the obligation and the date (month and year). Or it can also be a semester period, indicating the obligation, the year and the declared semester (semester 1 or 2).
Next, a series of questions will be presented to you on the screen that can be used to fill out the form. It is very important that the answers you put here are true. It should be noted that some questions may appear automatically answered, because the system takes the answers from the taxpayer’s database.
If some of this default answered data has changed, or if you want to make a modification to the answers you once answered in a previous statement. Then you can press the «Edit» button and make the changes you consider necessary. Remember to click «OK» for these changes to be saved.
To fill out the form, three (3) different sections will be shown. And in each one there are various boxes that the user must fill manually, which are identified with an associated numeric code. The first section corresponds to the sales, where the taxpayer must indicate the values taxed with a zero (0%) or different rate.
Also included here are credit notes generated by discounts or returns, and imports or exports that have been made in the fiscal period. In the second section, the tax summary is made, where the compensations, pending balances and VAT adjustments that are discounted to the taxpayer are taken into account.
The third section is directed to withholdings at source. Here it is necessary that you record the withholdings made, if according to the tax regulations, you have the status of Withholding Agent. Finally, the billing will be displayed on the screen, where the tax to be declared appears.
The last step to carry out is the payment of the tax, for which the system will present you with four (4) modalities. Choose the one that best suits your needs and make the corresponding payment.
Considerations:
- The system offers you the option of saving a draft of the declaration so that you can view it after the form has been submitted.
- If the system detects an error in the introduction of data in the form, it will not proceed with the sending of it. Make sure no fields are marked in red.
- You can add a new bank account to the system to make the tax payment.
To access the instructions for filling out this online form, you can go to this link. You’ll go to a file in PDF format, download it to your computer and use it as a guide. This instrument is carried out by agents authorized by the Internal Revenue Service (SRI). And it has been recently updated to the system features.
We also provide you with an explanatory video on how to complete the SRI Form 104 (updated) online. Touch the screen to play it.
How to process the SRI Form 104?
To process the SRI Form 104 online, it is necessary to enter the web portal of the Internal Revenue Service (SRI), giving click here. Or also through the search in the browser, from this email address: www.sri.gob.ec
Once inside the page, in the section of SRI online, you must look for the options bar that is shown on the left side of the screen, and press the box «Declarations«. When you touch there, several more boxes will be displayed, you must click on «Tax return«.
Once logged in, you can double click on the «Preparation and submission of declarations»To go to the login window. To do this, enter your user data (RUC, identity card or passport number) and the password that you have previously established.
Finally, to get the Form 104 of Declaration of Value Added Tax (VAT)Select it within the main menu, just by clicking on the window that appears. And ready! From that moment on, you can fill it out online.
What is it for?
This form allows the taxpayer to present their monthly or semi-annual VAT return. This is a fundamental requirement for natural or legal persons that carry out a commercial activity, the result of which is lucrative. And that they are not exempt from this payment.
Its importance lies in the fact that any consumer product that a company or natural person sells, or services that it provides, include the added value of the tax. Therefore, it is necessary to declare this tax that is not directed to the seller, but is transferred to the State as a public resource.
Previously, this procedure was carried out manually and submitted in writing. Today it is electronically enabled to improve effectiveness and make the filling process easier and shorter. Not counting the decrease in the margin of error, thanks to the automatic calculations carried out by the system.
According to data provided by SRI, filling out the form and paying the tax online can be completed in six (6) minutes. When long ago a person who knew the form could take up to thirty (30) minutes.
Who should File the SRI Form 104?
The SRI Form 104 intended for the declaration of VAT, it is aimed at all taxpayers who are responsible for sales tax. That is, the natural persons who must compulsorily present their accounting, regardless of whether they are natives of Ecuador or if they have foreign nationality but reside in the country.
Likewise, it applies to legal personalities, from the public or private sector, who must declare the Value Added Tax for the commercial activity they carry out. When a company markets products or offers services that are taxed with VAT, then it must process Form 104.
Natural persons who are not obliged to keep an accounting, but who have carried out the importation of a good or commercial activities from outside the country within the fiscal period, must also present their declaration using this form.
Internal Revenue Service (SRI)
The Internal Revenue Service (SRI) is the body in charge of handling tax matters in the Republic of Ecuador. Its functions include the collection of tax funds through the collection of taxes corresponding to natural or legal persons that the law dictates.
In addition, it ensures the correct use and administration of these national resources. For which it requires establishing and enforcing tax regulations, through fines and penalties applied to those taxpayers who do not fulfill their duties in paying taxes.
It is an entity with financial and administrative autonomy, which dedicates its efforts to the eradication of bad tax practices (evasion of the taxpayer’s obligations in paying taxes).
This public body has a large customer service channel. Where various advisers and agents are at the user’s disposal to resolve their doubts about the payment of taxes, requirements to carry out procedures, location of the declaration forms and annexes, among others.
If you wish to communicate by phone with the SRI, you can do so through this number 1700 774 774, or directly with the landline 042 598 441 available nationwide.
What is SRI Form 104?
The Form 104 It is a procedure destined to the declaration of the Value Added Tax for the taxpayers who apply for the payment of this tax. Electronic filing has been enabled through the Internal Revenue Service (SRI) web portal, greatly facilitating this process.
VAT is a tax paid by the consumer who purchases a good or service. This value is an additional fee that is added to the value that corresponds to a product. The rate varies for each country, and even in different areas of a country different rates can be handled. In the particular case of Ecuador, the normal rate of this tax is 12%.
As you have come this far, now you know many relevant aspects about this procedure. Thank you for choosing us to answer your questions and consult information on this form.
What are you waiting for to declare your Value Added Tax through the SRI Form 104?
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