Tax Form D101: How it is, Completed and MORE

Walking under the law is one of the most important values ​​that can give us peace of mind in our life, knowing that the pending accounts are paid and that you comply with the laws of the country where you live gives peace. For this reason, today we will give you all the information about Tax Form D101.

If you want to know what it is, how you should fill it in or any other information, just continue reading the following paragraphs in which we will provide you with all the information you require.

What is the Tax Form D101 like?

First, it is important to note that there are two ways to fill out the form, the initial option is to complete the form online.

The other is to upload an Excel file, only if you already have all the information prepared in advance in an XML file with the appropriate format. This document begins by requesting that you enter the period, the ID and the type of ID you have.

Then comes the first part, which is about filling in data about the actives and pasives, the points to answer are:

  1. Cash, banks, temporary investments, documents and accounts receivable.
  2. Fixed assets.
  3. Inventories.
  4. Total net assets.
  5. The total of liabilities.
  6. The actions and also contributions that have been made in companies.
  7. Place all equity.

Now comes the second part that deals with the income:

  1. Here you will have to place your commissions.
  2. Professional services and fees.
  3. Sales of goods and services, except professional services.
  4. Interest and financial returns.
  5. Rentals.
  6. Dividends and participations.
  7. Any other income different from the previous ones.
  8. It also places non-taxable income other than the above.
  9. Finally the total in gross income.

The third is about costs, expenses and deductions, in this we have:

  1. Both beginning and ending inventory are recorded.
  2. Shopping.
  3. The cost of sales.
  4. Selling and administrative expenses are recorded.
  5. Interest and financial expenses.
  6. Contribution Voluntary supplementary pension schemes. A maximum 10% of gross income.
  7. Depreciation, depletion or cushioning.
  8. Other expenses, costs and also deductions allowed by law.
  9. Finally, in this section, the total expenses, costs and deductions that have been allowed by law are placed.

We continue with the fourth point which is the tax base:

  1. Net income is placed first. It is the non-subject amount that is applied to the subject applied to the salary tax, it has to be the annual accumulated.
  2. The free zone exoneration.
  3. Income taxes.
  4. Exemptions from other councils.
  5. Place the income tax that will go after the exemptions.

In the fifth point you must place the credits:

  1. Enter family credits only for individuals.
  2. The period tax.
  3. Place partial payments.
  4. 2% withholding.
  5. Other credits and also other withholdings.
  6. At the end of this point, the total net tax is entered.

The sixth and last point we have the tax debt settlement:

  1. You are going to post an answer to this: «I request to compensate with credits in my favor for the amount of».
  2. Next to this you click on «Generate the XML file» and you will have finished the document.

How to fill it?

It is always important that you pay attention to each of the requirements of this document, therefore, in the following paragraphs we will describe in detail the steps that you must follow and fill out so that your form is complete and well answered.

Steps

  1. The first thing to do is click to start filling out the Tax Form D101, where it says «Fill in the form.»
  2. Following this, you should look on the screen for an advertisement that indicates that the data will not be saved until the form has been completed.
  3. It is important to remember that if you stop using the site for a period of 10 minutes and any information that you have previously posted will be lost.
  4. Previously this document was done by hand, but by now it is, as we already mentioned, online.
  5. Next we will talk about the income, which is one of the first data to fill in:
  6. You will have to go to section II, which is called «income», that’s at the bottom.
  7. Remember, that in section I of Assets and Liabilities, it must be completely blank, assuming that the profession is not accounting and that you have not hired an authorized accountant to make said declaration.

Income

  • There is a way to only report your income and expenses when the individual is enrolled in professional services.
  • In the part where line 28 is that corresponds to professional and honorary services, write the total of your income including VAT.
  • There is a rectangle located on the right side, there is the whole number format without decimals.
  • In this site the total Gross Income will be calculated automatically (that means it is before deducting expenses), that is in line 35.
  • Now continuing we go to the part of Costs, Expenses and Deductions, this is the third section. While there, look for line 41.
  • On this site there is a box in which you must write the total amount of expenses for the period, with their respective taxes included.
  • It should be remembered that it must be written with whole numbers and decimals.
  • This total amount will be shown in line 45 the total amount, just in the expenses section.
  • Now to see what your net amount is, that is the Taxable Base and it is found in section IV.
  • There is another line that is 46 that is the Net Income, there it gives you the result of your income minus your expenses.
  • If for any reason your income is less than ¢ 3,628,000, you do not have to pay taxes at all. This is in the case of a natural person with an activity that constantly gains him.
  • If you would like to know the price of the income tax rates by clicking here.

If you have a salary, pension or are retired, apart from these income for individual activities in the fiscal year; you will have to calculate the exempt section.

What is the Tax Form D101 for?

The Tax Form D101 It is extremely useful to be able to communicate to the Tax Administration the beginning of your economic activities.

The functions or rather services that you can find on the website are:

Customs, financial administration, exemptions, training in public finance and legal services.

Let us now focus mainly on the What is the Tax Form D101?

  • For the strengthening of public finances.
  • It is used to carry out tax studies.
  • It works to have your documents and calendars of interest registered.
  • Also to observe the records and lists of interest.

Who Issues It?

Those in charge of issuing this Tax Form D101 are the MH (Ministry of Finance) and the ATV (Virtual Tax Administration) for the

The Mh is part of the government ministries of Costa Rica, which is in charge of directing all the fiscal policy that ensures you obtain and apply public resources at all.

This, according to all the principles of economy and efficiency, through updated and integrated processes.

These principles are taken into account in order to reach the goal of maintaining a society in great prosperity, based on justice and solidarity.

The current holder of the Mh is Elián Villegas Valverde. The ATV is a wonderful tool that enables the entire process in which returns are made through the generations and the use of a virtual card.

It allows you to authorize other people to carry out the preparation, make the presentation or make a query of their respective tax returns.

Basically this is the definition of the Tax Administration virtual.

What is Tax Form D101?

Article D101 of the Ministry of Finance of the Central American Republic of Costa Rica has clearly written by rule that every citizen, legal person or entity must abide by the law for the proper functioning of the laws of the Republic.

In a commitment to have made a sworn declaration of the income tax that is carried out on the income of the people of Costa Rica and its land territories in all national and legal areas.

Thus, it just makes it clear to us that said norm as part of the constitutional laws must be duly processed and declared before a competent entity of the birth, in representation of the virtue and the established norms.

Vision and mission

To be the Institutional Commission that can transmit, promote and enforce ethical values ​​in the work of the Ministry of Finance.

On the other hand, the vision seeks to be an Institutional commission that contributes to the execution and evaluation of all the ethical values ​​policies of the Ministry of Finance.

You already know all the necessary information, step by step to make and fill out the Tax Form D101 in an excellent way.

Each of the most frequently asked questions are answered on this site, always remember the importance of filling in this document.

Keep in mind that being under the law will give you great peace of mind and will help you make any process you carry out in the future easier.

Don’t waste any more time and start completing your Tax Form D101

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