Do you need to do the Form 705 for your annual tax return? Then you are in the right place, read on to find out what you should do.
Online Form 705
What is form 705? What is it for? Where do I process it?
First of all, it is important to know what the Form 705. It is the one that is used for people who generate income from natural persons and also, for the income tax return that the companies where they work have withheld, according to SUNAT.
The taxpayer’s data will be known in the form. Don’t worry. The information is completely confidential, so your data will be safe.
If you are wondering what personal information you should provide, we will let you know:
- tax payments
You must verify this information so that you do not provide wrong information.
How to carry out the process
It is important to know that this form is done virtually, that is, online. Therefore, in addition to a computer and good Internet, you will need to have certain essential requirements:
- SOL clef It is extremely important when making the form. If you do not have the key, you should go as soon as possible to the service center that is easiest and closest to you. Request for Access to the SUNAT Online Operations System.
- To carry out the previous step, you must have your ID or identity document.
On the other hand, if you are exempted from registering in the RUC, you can only have your SOL key from the SUNAT website, where you can access by clicking here. Then, you go to the option «Obtain CLAVE SOL for deductible expenses or DL 1264». It is located in the «People» part of «Without SOL key».
To understand the procedure check the following images:
To get the access request, do click here.
What data do I need?
According to the tax lawyer José Verona, you need:
- First home purchase interest.
Basically, they are those interests of a mortgage nature. They are filled in the option that says «deductible expenses» and you have two options to fill it out, manually or with the correct credit number.
- Receipts for electronic and bank professionals:
What does this mean? Well, nothing more than the fee receipts. To complete it, it is important that you verify that the person details in their RUC the profession he practices.
- Receipts from doctors and dentists.
It refers to all medical expenses, of any specialty. It should be noted that it is included only if the receipt was made for fees. In this way, the receipt is deductible, and thus, the Income Tax refund can be generated.
- To deduct receipts for fees.
- Real estate rentals.
If you live in a rented property, you should know certain things:
- Demand that they give you the payment of 5% Income Tax. It is important that your ID appears as a tenant.
In this way, you ensure that the tax payment is deducted and the refund is generated.
How to complete the Form
With the data that will be left in the excel files that you can find below, you will be able to solve effectively the Online Form 705.
- Enter the information in the fields
- Remember that for a proper import NOT you will need to modify the table structure in Excel. In the case of numerical values, these must be entered WITHOUT to consider decimals
- You also don’t need to add additional columns or rows since the Virtual Form 705 will import from a given cell.
- shall rename the file, for which the name must have the following structure:
- Only fill in the information in the fields WHITE
0705 = Form Number
ruc = RUC number
CCC = Box or Field Number
- Be sure to record the file name with the extension “xls“
- Proceed to «Import» in Virtual Form 705 from the path where you saved the file.
We leave you the following Excel files so you can access the virtual form
Filling out the form is not a difficult task. You just have to know the information to place.
In the file, you will only be asked for the following information:
- Document type.
- Document number.
- Type of Good.
- Description of the Good.
- Registration starting.
- Leased area.
- Road type
- Name of the road
- Zone Type
- Zone Name
- Light Supply
- Water supply
And some more data.
How is the payment made online?
To pay you must access with the Clave SOL to SUNAT Online Operations.
Then, you go to SUNAT Virtual.
Then, choose the payment option:
Credit or debit card.
Account charge. What does this mean? The person should go to the corresponding bank. Once there, register an account for the payment of taxes. You can only do this if you are a user of:
- Bank of Commerce
Deduction account charge. It is important that you know that you do not necessarily need affiliation, you just have to have enough funds in the withdrawal account.
Once you have completed the payment:
The system will automatically send you the certificate called «Presentation and Payment». This is equivalent to the proof of declaration and payment. EYE; It’s the only proof you should have.
Onsite. You just have to go to the nearest bank agency or the one that you like the most.
How do I know if I have to submit the form?
You should only submit the form if you have a balance in your account in favor of the tax to be regularized. IMPORTANT: If you have not taxed, you should not fill out the form.
What are the steps?
- website of the SUNAT
- Enter with SOL password.
- Go to Virtual Form 705
- Follow the steps
What is the most important information on the form?
All are extremely important, however there is one essential.
Box 522 focuses on measuring the equity imbalance.
It is important since it lets you know the account movements in financial institutions.
View the following video to settle some doubts.
It is extremely important that you declare your taxes. If you wonder why, it is only at the time of declaring that you can choose or qualify to request and obtain benefits of public and private order.
That is, you can receive refunds for having paid more taxes, you can get tax credits, you can qualify for free health programs or apply for financial aid.
All this money is converted into education and investment, that is, in schools, roads, national parks, hospitals, national security.
Success! We hope the information has worked for you!
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