December 3, 2021
Executive Decree No.186 of 22 November 2021, published in the Official Gazette 29427-C of December 2nd 2021, establishes important changes to Form 03, which is the report that allows taxpayers to submit information on all their employees for income tax withholdings.
These are summarized below:
Filing. Previously it was filed within the first five months of each year and beginning the year 2022 onwards it will be filed monthly.
Balances in favour. If, on filing the form, there are balances in favour of the National Treasury, the employer must pay the tax due at the time of filing the form on behalf of the worker, no later than the last working day of each month. If they are balances in favour of the employee, the employer shall proceed to pay these credits to the employee.
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