👥Special Taxpayers as Collecting Agents
The role of special taxpayers
Legal Basis
Administrative Ruling No. SNAT/2022/000013 was published in Official Gazette No. 42.339 of March 17, 2022, whereby special taxpayers are designated as collection agents of the Tax on Large Financial Transactions, a regulation that entered into force on March 17, 2022.
Relevant Aspects
The ¨Special Taxpayers", as of March 28, 2022 have the RESPONSIBILITY to perceive (collect) the amount of the IGTF that is caused when a natural or legal person pays them with foreign currency or cryptoassets other than the Petro without mediation of the financial system.
The money received by the Special Passive Subjects for IGTF, i.e., for payments made in foreign currency, MUST be delivered to the National Treasury within the term and in the forms established in the IGTF Law.
Object
The "Special Passive Subjects" as "Perception Agents" are responsible for the IGTF for the payments they receive in currency other than that of legal tender in the country or in cryptocurrencies or cryptoassets other than those issued by the Republic, without the mediation of financial institutions.
Perception of the IGTF: When?
It must be practiced on the same day in which the taxable event of that tax is verified, that is, when a person (natural or legal) makes a payment in foreign currency to a Special Taxable Person, at that moment the 3% IGTF aliquot must be applied to the amount paid in a currency other than the Bolivar.
Payment of the IGTF
In order to proceed to pay the tax collected, the "Perception Agents" MUST make the biweekly transmission in accordance with the technical instructions issued by the SENIAT and declare through the SENIAT tax portal and pay in the offices receiving national funds on a biweekly basis, in accordance with the payment schedule of Value Added Tax withholdings for special taxpayers and the technical instructions issued by the SENIAT for such purpose.
On the undue collection of the IGTF
When an undue collection is made or when amounts in excess of those collected are paid and the amount is transferred to the account of the National Treasury, the "Collection Agent" MUST reimburse the taxpayer the amount unduly collected and subsequently request the SENIAT the reimbursement in accordance with the rules of the Organic Tax Code.
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