The Internal Revenue Service (SRI) will cross check information on departures from the country, use of credit cards, electricity consumption and assets, to prevent evasion.
Tax collection will close at just over $15.0 billion in 2022, says the director of the SRI, Francisco Briones.
Of this projection, $1.0 billion will correspond to tax evasion and avoidance control processes.
In a recent interview, Briones announced that the SRI will tighten controls on individuals, to reduce evasion and increase Income Tax collection in 2023.
It will do so through the crossing of taxpayer data, for example, the times that people have left the country or have bought with a credit card.
How much will SRI collect in 2022?
Briones: “The net collection, that is, the resources that will finally reach the State Budget, will be just over $15.0 billion in 2022, around $1.5 billion more than the goal set by the government in 2021.
This is due to two factors: the recovery of productive activity and sales, but also because local and international inflation have been higher (as product prices have risen, more taxes such as VAT are paid).”
How is SRI going to reduce evasion?
Briones: “We are always doing checks; it is constant work. As a result of these tasks, the SRI plans to collect $1.0 billion more in 2022.
And in 2023 we expect to raise an additional $100 million to $200 million from strengthening controls.”
How will you detect inconsistencies?
Briones: “First, with the Tax Control Process or PCR, which consists of carrying out an analysis of a sample of taxpayers, and which has already made it possible to detect inconsistencies in their returns.
Those taxpayers have already made their substitute declarations.
With this, the collection does not grow much, but we are transmitting the message that the SRI charges everyone: businessmen, politicians, millionaires, athletes.
Historically, the control of the SRI has been concentrated in the companies. But in 2023 we will focus control efforts on individuals, using data that allows us to know if the taxpayer’s lifestyle matches the declared income.”
And how is lifestyle measured?
Briones: “With data on departures from the country. Our base of departures from the country is from 2015, there is a gap of seven years to determine taxes. So, let’s update the base.
The SRI can also use information on purchases with credit and debit cards of taxpayers and their family circle to cross-reference information.
Other useful information is property and assets, including electricity consumption.
With this qualitative information we are going to establish a risk indicator that allows us to know if people are declaring their real income.”
What is the tax collection goal for 2023?
Briones: “We expect gross collection growth in 2023 to be a little over 10% versus 2022.”
How much corresponds to the tax reform?
Briones: “The tax reform measures will generate $855 million in 2022 and around $655 million in 2023.
It must be remembered that in 2023 the special contribution to the assets of natural persons will no longer be collected, nor the temporary tax for regularization of assets abroad.”
Why has the collection of the tax to regularize assets abroad not reached the $200 million projected by Finance?
Briones: “We cannot know how much wealth there is abroad, therefore, the SRI does not have a target for this tax.
As of August, $30 million have been raised, which is equivalent to $700 million in equity or regularized assets.
There is still time for taxpayers to declare until December 2022. We hope that in the last days, before the deadline, the payment of taxes will be accelerated, so the collection may be greater.”
What happened to the information of 44,000 accounts abroad that they received for being part of the Global Forum?
Briones: “We did a first analysis of a section of the 44,000 accounts and we did the first control processes based on that information.
The SRI notified taxpayers who did not report their money abroad and have already made their substitute declaration.”
Will the declaration of this tax lead to a higher income tax collection in 2023?
Briones: “People who have income from their assets abroad must pay this tax.
This will help us further in checking for past statements. If the person has assets abroad, he should have had income for that.
Did you declare that income at the time? If you didn’t, you’ll have to file a replacement return and pay.”