2024-08-18 21:52:55
The Internal Revenue Service will select, and then publish, the list of authorized establishments. The main requirement is that the establishments are up to date with their tax payments. Learn how to request a VAT refund.
According to the regulation of the Law for the Strengthening of Tourism Activitieswhich came into force on July 15, 2024, the Internal Revenue Service (IRS) must publish on its website the list of the Authorized establishments where expenses that apply to the VAT refundfor both the elderly and the disabled.
The main requirement that authorized establishments must meet is to be up to date with the filing and payment of their VAT returns, at least for the last 12 months.
In the case of a taxpayer subject to the Rimpe (Special Regime for Popular Businesses and Microenterprises)must be authorized by the SRI as an establishment in which VAT may be refunded, and must submit monthly VAT returns, starting on the first day of the month following its qualification as an authorized establishment.
How to request a VAT refund online?
The first step is to obtain a username and password to enter the portal SRI onlineTo obtain the username and password, a procedure must be carried out in person at the SRI offices.
After that, the process to request the VAT refund is carried out as follows:
-Enter the SRI web portal with your username and password.
-In the menu on the left, click on Returns.
-Then click on VAT refund for senior citizens.
-Enter the details of the bank account into which you want the refund to be credited.
-Choose the month and year of the invoices for which you want to request a VAT refund
-Select the invoices for which you wish to request a refund and detail the amount of VAT to be refunded.
-Choose the type of expense for each bill.
-Click on “Process selected invoices” and “Save selection made”.
-If you wish to continue requesting VAT refunds for other months, repeat the process.
-When you are finished, click “Submit Request.”
-The system will show the summary of receipts and the total VAT you are requesting.
-Click on “Upload information”.
-The SRI will send a notification with the procedure number.
-Wait for the money to be credited to your account.
-Once this process is completed, the SRI will send a notification with the transaction number, and the corresponding amount will be credited to the indicated bank account.
How to check if the amounts requested for VAT refund have already been paid?
1. -Enter your ID number and password on the SRI website in the upper right corner where it says Login.
2.- Expand the menu located at the top left until the option appears Procedures and notifications.
3.- Open the Procedures and Notifications submenu until you see the Procedures option.
4.- Now continue opening the Procedures submenu until the option appears History of my procedures and you can click there.
5.- A list will appear with all the VAT refund requests you have made and the status of each request (Submitted, Under Analysis, Notified or Cancelled).
If the status says Notified, that means that the payment and verification stages have already been completed and only the refund crediting to the bank account is pending.
You can check directly on the SRI website if the values have already been credited to you. To do so, you must go to the magnifying glass located on the right side of the box where the status of the request is indicated. The column is called accreditation information.
The amount that can be requested for VAT refund increased this 2024
With the increase in VAT from 12% to 15%, the maximum amount that can be requested as a refund of this tax has also been increased, both for the elderly and for the disabled.
In 2023, with basic salary of $450 and a 12% VAT, a maximum of 12% of $900 (equivalent to two basic salaries) could be requested, that is, $108 per month.
This 2024, from May (one month after the VAT increases), you can request, as a maximum, 15% of $920 (equivalent to two basic salaries of $460). Thus, the amount will rise to $138 per month in the case of a person of the third age.
In the case of people with disabilities, depending on the percentage of disability, the amount that can be requested is between $82.8 and $138 per month. (JS)