If you want to know everything related to the Tax Form D150Read this article, here you will find the important information you need to know regarding this form.
You can clarify doubts related to the information necessary to supply in the form. Similarly, you better know what the penalties for non-compliance are.
The Ministry of Finance of Costa Rica, through the General Directorate of Taxation, improved tax practices in favor of optimizing the collection of taxes.
Data to be Declared on the Tax Form D150
The data to be declared in the Tax Form D150, is the information corresponding to the withholdings made as payment on account of income tax during the corresponding period.
The identification data of the retained must be indicated in detail (natural or legal persons to whom the retention was made).
The number of the legal card or identity card, likewise, the business name or name of the company or the names and surnames of the natural person. Also, the type of withholding, the base amount and the corresponding tax withheld in the period must be indicated.
The data to be noted are the following:
- Indicate the retention period done.
- You must indicate the ID number of the detainee, is the number of the natural or legal person to whom the withholding is made. If they are foreigners, then you must indicate the identification number given by the Tax Administration.
- Point out the name of the detainee, that is, the company name or name of the company or company, or the names and surnames if it is a natural person. Likewise, the identity card number of the detainee must be entered if it does not appear in the database.
- You must indicate the amount that is paid or credited to the taxpayer, even in the case of payments on account or advances of operations.
- Likewise, it must indicate the type of operation and the amounts must be separated according to the following codes:
- 01 news, communications, transportation, reinsurance, films and other types of services provided by people not domiciled in the country.
- 02 for contracts, tenders, and business of the State with third parties, as indicated in article 23 of the Income Tax Law (2%).
In the information to be provided, the accrual criterion must prevail. With the due exception that the informant has formal authorization from the General Tax Office for the use of another accounting record system.
What is it for?
The Tax Form D150 o Annual Statement of the Summary of withholdings paid on account of taxes on profits.
This form is an informative return prepared electronically. The informative returns are the pertinent information for tax purposes and must be provided obligatorily to the General Directorate of Taxation.
It is information that is deduced from economic, financial relationships with other people.
The system offered by the Ministry of Finance of the Republic of Costa Rica allows the taxpayer to prepare, save and electronically generate informative returns.
This can be done with the Tax Form D150. In addition, the system has a certification and validation procedure through the Taxpayer Identification System (SIC).
Form d150 allows taxpayers or informants to can make the monthly declaration of the withholdings made during the period. In addition, they must also provide information on the withheld and the amount withheld according to the withholding percentage applied to each taxpayer in the corresponding period.
It is very important information that the General Directorate of Taxation collects. The General Directorate of Taxation is in charge of conducting everything related to the tax control of operations and economic activities carried out in Costa Rica.
Penalties for Failure to Comply with Tax Form D150
Failure to indicate the information indicated, causes the Tax Administration to begin a procedure to apply penalties that are determined in Article 83 of the Code of Tax Regulations and Procedures.
The Code of Tax Rules and Procedures establishes the following:
- Lack of partial or total compliance in the detail of the information. 2% of gross income in the period of income tax, prior to that in which the offense originated, with a minimum of three base salaries and a maximum of 100.
- In the event that the obligor provides the information within three days after the expiration of the period conferred, the fine is reduced by 75%. If they do not have gross income, the penalty is 10 base salaries.
- The records that have not been declared mean a portion greater than 10%, 25%, 50% or 75% of the records that should have been declared, the Tax Administration can then modify the sanction to the foreseen cases, determining a proportional fine of 25 % 50% and 75% respectively.
- If the obligee does not know the amount of gross income, a penalty equal to a fine of 10 wages base.
- Likewise, the presentation of information with errors or that does not belong to what is requested generates sanctions by the Tax Administration:
- 1% of base salary for each record with errors (the minimum of three base salaries and the maximum of 100).
If you require more information, you should enter the Treasury portal in the «Tax Services» section «Informative Declarations».
You can also contact the information service center at the telephone number 2539-4000. You must also select option 1 with the QR code from your mobile phone.
Who Must File Tax Form D150?
According to Resolution No. 8-97 and according to article 2 those obliged to present the declarations according to the electronic model D-150.
The persons obliged to submit this declaration are those mentioned below:
- Natural or legal persons, public or private, who are users of transport services, reinsurance, cinematographic films, communications, international news and other services of article 11 subsections a), b), c) and ch) of the Income Tax Law provided by non-domiciled companies, but with a fixed representative in the country. They must make withholdings of 3% on the payments they make according to article 23.
- Also, el State or its institutions, autonomous or semi-autonomous. Likewise, public companies, municipalities and other public entities that correspond to make withholdings of 2% on the payments or credits that they make to people in the country, as a result of private or public tenders, businesses or other activities.
- Also, financial entities who have to make withholdings of 2% on the amounts they pay or credit or otherwise make available to natural or legal persons that offer professional services.
When is it presented?
The Tax Form D150, It must be submitted by electronic form on a monthly basis. In addition, it must be done within ten days following the month in which the withholdings were made.
The Resolution No. 8-97, created the imposition of the use of the printed form and it is called Form D-150. It must be submitted by the obligated parties to the Tax Administration of the jurisdiction to which it belongs.
Likewise, the persons and entities must present the summary sheet and the detail of the taxpayers from whom the withholding was made. This summary sheet must be signed by the taxpayer or the legal representative, on the magnetic device.
What is Tax Form D150?
The Tax Form D150 is the Annual Withholding Summary Statement payment on account of taxes on utilities. The electronic model became monthly periodicity since October 2016.
Article 12 of Resolution DGT-R-042-2015 indicates that the declaration form is submitted in the following ten continuous days to the month in which the withholdings were carried out.
You already know the important details of the Tax Form D150. Now, review your activities and make the corresponding declaration on the stipulated date. Thus avoid the sanctions established by the Code of Tax Regulations and Procedures.
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