Understanding and closely monitoring the key tax obligations for January 2023 is essential for establishing a tax payment strategy.
The immediate cash flow requirements associated with these dates make it essential to maintain a sound cash flow and financing plan for your business.
If you fail to take this into account, you run the risk of running out of cash and being unable to meet these payment obligations.
Deferring payments and turning to alternative financing are viable solutions.
However, these solutions must be accompanied by proper tax planning, taking into account the deadlines set by the Tax Agency.
The deadline for filing and, where applicable, making payments for the fourth quarter of 2022 regarding withholding taxes and estimated tax payments for Income Tax and Corporate Income Tax—covering income from employment, economic activities, capital gains, prizes, imputed income, gains on shares and units in collective investment institutions, rental income from urban real estate, investment income, authorized persons, and account balances, is January 20.
(Forms 111, 115, 117, 123, 124, 126, 128, 136, 210, 216)
The deadline for filing Form 039, relating to the special regime for groups of entities provided for in the VAT Law, is also January 20.
January 30 is also the deadline for filing the fourth-quarter 2022 VAT return.
Among others:
VAT reverse charge
Summary return for intra-Community transactions.
Form 390, Annual VAT Summary, must also be filed
And the installment payment of personal income tax on business and professional activities (Forms 130 and 131).
Until January 30, you may also file:
Application for a refund of contributions reimbursed to travelers by employers under the equivalence surcharge.
Adjustment of tax rates for tax periods prior to the start of regular sales of goods or provision of services.
Refund of compensation under the special regime for agriculture, livestock, and fishing.
Election or revocation of the special pro-rata method for 2023 and subsequent years, if the business activity began during the last quarter of the 2022 tax year.
In addition, the annual summary for the 2022 tax year regarding withholding taxes and payments on account for income and corporate taxes may be filed through January 31:
– Employment income
– Business Activities
– Prizes and capital gains
– Income attributions
– Gains from shares and units in collective investment institutions
– Income from the leasing of urban real estate
– Capital assets
– Authorized persons and account balances.
(Forms 180, 188, 190, 193, 193-S, 194, 196, and 270).
By January 31, the following must also be filed:
– Personal Income Tax (IRPF): Waiver or revocation of the simplified direct assessment and objective assessment methods for 2023 and subsequent years. Forms 036, 037
– VAT: Waiver or revocation of the simplified regime and the regime for agriculture, livestock, and fishing for 2023 and subsequent years. Forms 036, 037
– Request to apply a provisional deduction percentage different from the percentage set as final in the previous year (no form required)
– One-Stop Shop: Import Regime for December 2022. Form 369
– Single Window: Foreign and EU Regimes, Fourth Quarter of 2022. Form 369
Finally, other obligations (informative returns) that must be filed by January 31:
Quarterly Informative Return on the Transfer of Use of Residential Properties for Tourist Purposes.
Informative return for updating tradable cross-border mechanisms.
Digital Services Tax.
Informative return for individual certifications issued to partners or shareholders of newly or recently established entities.
Informative return for entities under the income allocation regime.
Informative return for expenses related to authorized daycare centers or early childhood education centers.
The deadline will depend on the filing deadline for each form.
Thus, if the due date falls on a non-business day, the deadline extends to the next business day, and the deadline for direct debit will be extended by the same number of days as the extension granted for filing the return.
For more information on this blog post, please visit the 2023 Taxpayer Calendar