Have you started a business? These are the tax obligations you must comply with

More than 157,000 companies were created in 2022, according to Sunarp, but what commitments do they need to make in order to fully formal?

Michael Damas, Head of Corporate Legal at Estudio Fuentes, points out five main points that all businesses must comply with.

1. RUK

First of all, companies They must obtain an RUC, which is an identification number provided by Sunat and is the first step to complete any tax procedure.

To obtain it, you can submit an online application in person at the offices Sunatwhich must be accompanied by documents such as a DNI or a public act of incorporation of the company.

“Once the RUC is received, it is important to update it in the face of any changes that take place in the company, such as a change in address, legal representative, economic activity, etc.,” the specialist said.

2. Issue payment vouchers

This tax obligation must be met by all companies that carry out transactions subject to the General Sales Tax (IGV) or that are required to maintain accounting records.

“They can be invoices and sales receipts. These documents should contain details of the transaction carried out, such as the total amount of the sale, IGV, and others. In addition, they must be issued electronically through the Sunat e-voucher system,” he said.

3. Tax return

Companies are required to declare and pay monthly taxes corresponding to their business activities.

In some cases, you must pay the General Sales Tax (IGV), which taxes sales of goods and services in the country.

You also have to consider Income Tax (IR), the rate of which varies depending on the category of income your company belongs to. For example, companies in the third income category have a tax rate of 29.5%.

“It is important to consider that there are special tax regimes for certain types of companies, such as micro-enterprises and small companies, which have a lower tax burden,” he added.

It should be remembered that in the case of an annual IR terms to submit a declaration before the sunat go from March 24 to April 11.

4. Account books

Companies must also have statutory ledgers that record all the transactions they carry out. They can be taken physically or electronically.

5. Retention and perception

Holds are tax liability in which the company must withhold a portion of the tax that must be paid by a third party such as a supplier or employee.

In the case of perception, companies must charge an additional tax from a third party, such as the buyer, on the amount of the sale.

Both tax liabilities must be declared and paid monthly before Sunat.