The deadline for the obligation to file the Informative Return on Relevant Transactions (DIOR), with the data for transactions executed during the months of April, May and June 2018 expires soon. This return shall be filed no later than August 31.
Taxpayers who are not a part of the financial system and whose accrued transaction amount for the applicable quarter is less than $60,000,000.00 pesos are exempt from filing this informative return.
Transactions to be reported are as follows:
a) Financial operations mentioned on articles 20 and 21 of the Income Tax Law:
I. Payment of initial amounts on financial transactions representing more than 20% of the underlying value.
II. Compound and/or structured financial transactions.
III. Financial transactions for commercial hedging purposes.
IV. Financial operations for negotiation purposes.
V. Financial transactions whereby the principal, interest and other accessories come from the segregation of a negotiable instrument or any other financial instrument.
VI. Separate sale of the principal security in connection with bonds or any other financial instrument.
VII. Independent sale of interest coupons in connection with bonds or any other financial instrument.
VIII. Early termination of financial transactions.
IX. Financial operations where the established option was not exercised.
b) Transactions with related parties.
c) Transactions regarding an interest in the capital stock of companies and changes in tax residence.
d) Transactions in connection with corporate reorganization and restructure.
e) Transactions regarding sales and contributions of financial goods and assets; transactions with countries with a territorial tax system; financing transactions and interest in connection therewith; tax losses; capital reimbursement and payment of dividends.
When taxpayers submit incomplete or erroneous information, they shall have a term of thirty days as of the date of notification given by the authority, to complete or correct the information filed.
This tax obligation shall be deemed defaulted when taxpayers have failed to submit the appropriate information upon expiration of aforesaid term, or if said information is filed with errors.
The fine for failing to submit this information, or for submitting information that is incomplete, with errors, inconsistencies or if it differs from the provisions on tax regulations ranges from $154,800.00 to $220,400.00.
Please feel free to contact us if you have any question or comment in this regard.