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Questions and Answers
What influences the modification of the income tax rate for individuals each year?
Which of the following statements is true regarding the tax return deadlines for individuals?
When is the deadline for a natural person with a ninth digit of '6' to file their tax return?
What is the filing deadline for companies with a ninth digit of '3'?
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What is the main purpose of modifying the income tax table each year?
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Study Notes
Taxation Overview
- Income Tax rates for individuals are determined annually based on a specified table.
- The table is updated each year in November, reflecting changes in the Consumer Price Index (CPI) in urban areas.
- The National Institute of Statistics and Censuses (INEC) is responsible for publishing the CPI.
Deadlines for Filing Income Tax Returns
- Filing deadlines for tax returns depend on the ninth digit of the taxpayer's ID number (RUC or Cédula).
- Natural persons must file their returns between March 10 and March 28, while companies must do so from April 10 to April 28.
Filing Deadlines by RUC/Cédula Ninth Digit
- 1: March 10 for individuals; April 10 for companies
- 2: March 12 for individuals; April 12 for companies
- 3: March 14 for individuals; April 14 for companies
- 4: March 16 for individuals; April 16 for companies
- 5: March 18 for individuals; April 18 for companies
- 6: March 20 for individuals; April 20 for companies
- 7: March 22 for individuals; April 22 for companies
- 8: March 24 for individuals; April 24 for companies
- 9: March 26 for individuals; April 26 for companies
- 0: March 28 for individuals; April 28 for companies
Explanation of Taxpayer Obligations
- Taxpayers are required to file taxes on their income as a statutory obligation, contributing to public resources and services.
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Description
This quiz covers the taxation principles for the 2nd year of Baccalaureate. It includes information on income tax rates, their determination based on the Consumer Price Index, and deadlines for filing income tax returns. Test your knowledge on the essential aspects of taxation relevant to individuals.
