Finance Ministry

April 30 each year wins the presentation of the Declaration of the income tax, this occurs in the Ministry of finance here in El Salvador and each year are retained thousands of statements that present tax, the causes by which are retained are multiple, with this article I intend to direct you to avoid or remedy errors more common when you do your income tax return. First: If you is wage your employer must give you a proof of your income and deductions reported to the Ministry of finance, this should contain the actual data presented by the company on the F910 form to avoid discrepancies at the time Hacienda crossing the information submitted by you in the statement of income and withholdings report submitted by your employer. For even more opinions, read materials from David Abney. Frequently encounter income statements where what was reported by the company is less than what the employee reports in the Declaration. Dr. B may find this interesting as well. Use this record to prepare the Declaration. Second: If you work for several companies or worked in the same year for different companies, ask for their perseverance to each one of the companies I do retention, confirm that your previous employer reported in the report of withholding and with that amounts reported it, if their employer did not report and you report it on your return, will surely be retained its return process until solvent you or your employer problem.

Third: If you loan your professional services independently (without dependence on labour), can deduct expenses that are necessary for the performance of their work, but caution that not everything that you spend can deduct it, e.g. single fuel can deducted 50% of the total as well as depreciation, as well as the expenses of the supermarket and other more that are not for the object or money. Submit inflated expenses to make the computed tax less and at the end we leave to return is another reason by which statements of income do not return them the Finance Ministry. Generally 20% of income overexpenditure may fall on the sample taken by the Treasury and will have to take the documentation to the Ministry of finance for review. Consult a tax advisor will help you to form your income statement, avoid setbacks, this way can more quickly recover your return of income and avoid unnecessary visits to the Ministry of finance visit our the article in our blog of audit tax and financial original author and source of the article.

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