Form 102 SRI – Income Tax Declaration

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He Internal Revenue Service (SRI) has the Form 102 SRI for the declaration of income tax by individuals not obliged to keep the accounts, format available on its web portal. Through the following article we explain the importance of carrying out said documentation and what the procedure is like. Continue reading for more information!

Form 102

First of all, we are going to emphasize some important aspects to take into consideration for carrying out the procedure, in such a way that it is easier to prepare and avoid some type of inconvenience in the process:

  1. The forms, not just this one, are completed by typewriter or handwritten. In any case, the reading of information must be legible.
  2. Neither the original documents nor the copies must have blemishes, wrinkles or amendments. If they are in poor condition, they will not be received by the corresponding entity.
  3. All values ​​must be expressed in absolute value; without using a “minus” sign (-), or “brackets”.
  4. Points must be used to separate thousands and commas for decimals For example: 12,435.50
  5. The canceled fields must be completed with a horizontal line, the use of zero is not recognized.
  6. In the case of natural persons obliged to keep accounts, it is a requirement to have the signature of the taxpayer and the accountant. Otherwise the document loses legitimacy.
  7. In cases where the taxpayer cannot sign the declaration, the person designated by power of attorney must do so. When presenting the declaration, the document that enables it must be indicated.
  8. I remember to include in any case the last three digits of the RUC (001).

If you want to download form 102 do click here.

What is it and what is it for?

He Form 102 is a type of document presented by the Internal Revenue Service (SRI) for all those natural persons and undivided successions obliged to keep accounts that must declare the income tax of the previous year. Remembering that said declaration is a mandatory process.

The principal function of the form is basically to serve as a tool, both for the State and for the person, to keep track of the origin of the income and destination of the expenses, serving in turn as a mechanism to verify the legitimacy of said transactions.

The purpose of the form is to obtain information regarding the statements of financial position, profit and loss.

How to complete the data

Fill in each of the spaces providing the appropriate information, avoiding any type of error. The form requests the following data:

  • Status of situation: this category includes all assets and liabilities:
    • Current active.
    • Fixed asset.
    • Long-term assets.
    • current liabilities
    • Long-term liabilities.
  • Statement of income: This category includes all income and expenses:
    • Income.
    • Costs and expenses.
    • Tax reconciliation.

Correct errors in the form

The law establishes that if taxpayers submit tax returns (forms) and payment receipts where any type of error or inconsistency in the information provided is detected, said discrepancies can be corrected ex officio or at the request of the party, as long as said mistake does not affect the value to be declared.

However, those errors that can be corrected without generating some type of sanction will be the omission or errors in terms of:

  • Concept of the tribute in the payment receipts..
  • Taxable period both in the declarations and in the payment receipts.
  • NIT of the taxpayer, in the declarations or receipts of payment.
  • Names and surnames or business name of the taxpayer.
  • Address of the taxpayer.
  • Taxpayer telephone number.
  • Income tax form indicating the fraction of the year.
  • Code of economic activity of the taxpayer.
  • Allocation of balances in favor of the previous period without request for refund and/or compensation; rent advance and surcharge advance.
  • Transcription that does not affect the tax determined for the respective period or the total value of the withholdings declared.
  • Arithmetic that do not affect the tax payable determined for the respective period or the total value of the withholdings declared.

The correction of any type of error in the forms is obtained in the next 15 business days after the presentation of the application letter.

Form 102 and 102a

He Internal Revenue Service (SRI) presents the Forms 102 and 102A to carry out the income tax declaration of the previous fiscal year. Regardless of which form you must fill out, in both you must record all the income obtained from your commercial activity, dependency relationship, financial returns, leases, dividends, among others. Also personal health, housing, education, clothing and food expenses that are supported by valid sales receipts.

Although both forms present the same format, the The difference between the two lies in the type of taxpayer that must complete which form. Consequently, we have that natural persons obliged to keep accounts must present their tax declaration through form 102; while natural persons not required to keep accounts must make said tax declaration through form 102A.

It is also important to highlight that the Form 102 it is presented only online, without the need for the DIMM program forms; while the taxpayers required to keep accounts cannot declare online.

  • If you want to download the Form 102 beam click here.
  • If you want to download the Form 102A beam click here.

The taxes they are collected by the State for the improvement of public services, therefore it is important that as citizens the duty of making the Income Tax declaration is fulfilled each year, then we would be contributing to the progress of our country. through the Form 102 and the Form 102A he Internal Revenue Service (SRI) It proposes two types of procedures for each person, according to their case. Do not forget to fill out the corresponding form.

In the same way, the elaboration process is simple and in case of presenting some type of error, the government entities also give the possibility of solving them, as long as they do not affect the quantitative values, otherwise you would be sanctioned. However, we recommend that you avoid any errors at the time of the declaration, in addition to being as honest as possible with respect to the income and expenses obtained.

We hope we have clarified your doubts!

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