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Establishment of informative policies on donations

Establishment of informative policies on donations

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Through Resolution Ex. SII No. 103, the Internal Income Service’s Subdirectorate of Taxation, created the model of certificate No. 72, establishing the obligation of reporting the donations referred to in Article 18 of Law No. 21.258.

1. Creation of the Certificate

The institution created Certificate No. 72, also called “Certification of Donations to the National Cancer Fund” to certify the donations made to the National Cancer Fund. In this regard, the Undersecretariat of Public Health shall issue Certificate No. 72 for the above-mentioned purposes, according to the model in Annex No. 1, which shall be elaborated under the instructions contained in Annex No. 2, part of the regulations.

2. Control Exception

The regulations state that the issuance of the corresponding Certificates No. 72 are exempted from their authorization before the SII, regarding the prior control of the folios and application of the stamp, so they may be used once prepared under the formats and instructions contained in the mentioned Annexes No. 1 and 2.

3. Relevant Formalities

Certificate No. 72 must state the date of receipt of each donation, whether in cash or goods, being issued within 5 working days of such receipt. Likewise, in the case of donations of goods, the certificate must state the tax value at which the donated goods are recorded in the accounting records of the donor as of the date of the donation, in addition to identifying the donated goods.

On the other hand, if taxpayers reduce effective expenses to determine the net taxable income or taxable base, but are not required by the provisions of the Income Tax Law to keep such record. The certificates must show the acquisition value of the donated asset duly adjusted, according to the percentage variation of the Consumer Price Index between the month preceding that of its acquisition and the month prior to that the donation is made, minus the depreciation corresponding to the same date the donation is made.

Finally, it is important to point out that noncompliance with the issuance of the referred certificate, its incomplete, erroneous, late issuance, or failure to comply with the requirements set forth in Annex No. 1 and the instructions of Annex No. 2, will be sanctioned under the provisions of Article 109 of the Tax Code.

Source: Servicio de Impuestos Internos 07/09/21

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