Final Exam

2021 I

Bartolo Baquerizo, Grecia Abilia Note: ………………

25/02/20

Instructions:
1. Be careful with your spelling and writing, which will be taken into account in your
rating
2. Read the questions or statements carefully before answering. Manage your time.
adequately
Be brief and objective in your responses. No grading based on length.
4. You cannot use notes, class notes, devices, or books.

Complete the following statements with the required information (10 points)

1.Menciona 02 diferencias entre los gastos de publicidad y de representación

1. Advertising expenses are outlays directed at the 'mass of

"real or potential consumers" and representation expenses are those that
they aim to promote the image of the company itself.
2. Advertising or publicity expenses are deductible without limit or cap.
some, as well as their tax credit. Rather, the delivery of these goods to the
consumers or customer base to promote the sale of the product or
The service will be subject to IGV if it exceeds the established limit.

2. For the purposes of deducting losses (quantitative losses) as an expense the

the company must have the following supports:

For the deduction of the losses and wastages of stock provided in the section
f) of Article 37 of the Law, is understood as:
Loss of physical volume, weight or quantity of stock,
caused by inherent causes related to its nature or the production process.
When SUNAT requests it, the taxpayer must prove the losses.
through a technical report issued by a qualified independent professional
and the collegiate body or by the competent technical organization. This report must contain
at least the methodology used and the tests carried out. Otherwise,
the deduction will not be allowed.

3. For the purposes of deducting the impairments (qualitative losses) as an expense

the company must have the following supports:

That, section f) of article 37 of the Income Tax Law, whose text

Unique Order has been approved by Supreme Decree No. 179-2004-EF,
It establishes that the losses of inventories are deductible appropriately.
accredited;
 That, the subsection c) of Article 21 of the Income Tax Law Regulations,
approved by Supreme Decree No. 122-94-EF, provides that, in the case of the
shortages of stock, the National Superintendency of Customs and
Tax Administration - SUNAT will accept as proof the destruction of the
executions carried out before a Public Notary or Justice of the Peace, in the absence of the former, always
that it communicates in advance to the SUNAT within a period of no less than six (6) days
skills prior to the date on which the destruction of the referred will take place
goods, with the entity being able to designate an official to witness.
said act;

That, by means of Supreme Decree No. 044-2020-SA and its extensions,

has declared the National State of Emergency that provides for social isolation
mandatory establishing access to certain public services, goods and
essential services that do not include notary services
reason why _, it is necessary to amend the Regulation of the Tax Law
to the Income tax in order to relax the requirements for taxpayers to
deduct expenses for losses;

4. Mention 04 debts that cannot be subject to tax installment payment.

BY TYPE OF DEBT:

a. Tax debt less than 5% of the UIT. (UIT 2021 = S/. 4,400)
b. Withheld or collected taxes.
c. Debts that are included in restructuring processes
heritage under the protection of Law 27809, General Law of the Insolvency System
and others.
d. Reduced fines due to the application of the graduality regime, when for
This discount requires payment as a criterion of graduality.

5. What concept CANNOT be justified with a sworn statement in the case of per diem?
abroad?

The expenses corresponding to the companion of the person that the company or
taxpayer entrusted their representation.

6. Mention 03 mandatory requirements for my application to be approved

tax fragmentation
 Requirements to apply for installment payment:

At the time of submitting your request for installment or postponement and/or

Subdivision, you must meet the following requirements:

- Having submitted all the sworn statements for the debts to

to fractionate.
However, if your debt to be fractionated is contained in a resolution
of determination, since it was the SUNAT that determined the debt, it will not be
it is not necessary to file any declaration.
And if it concerns debts corresponding to the first or fifth Income Tax
category and you are not required to file an annual sworn declaration, for effect
the acceptance of the postponement and/or installment is understood to be submitted
the statements with the submission of the respective application.
- Having cancelled all payment orders for overdue installments and
pending payments for the subdivisions REFT, SEAP, or RESIT; without
embargo, this requirement is not required in case of the mentioned
debts are included in the request for shelter.
- Not having the status of not having been.
- Formalize the guarantees offered, when applicable.
- Not to be in processes of judicial or extrajudicial liquidation.
- Having paid, concerning the submission of applications for
subdivision, the acceptance fee at the date of submission of the
same in the cases that correspond, in accordance with what is established in the
Regulation of Subdivision, except for the contemplated exceptions.

7. It is a quantitative criterion for the purposes of income tax deduction.

Business: Reasonableness Criterion

8.Menciona 03 ejemplos de gastos NO DEDUCIBLES para las empresas

The Income Tax law states that they are not deductible for the determination
from the taxable income of the third category, among others:

- The personal and support expenses of the taxpayer and their family members.
- The fines, surcharges, and late interest provided in the Tax Code
And, in general, sanctions applied by the National Public Sector.
- Donations and any other act of generosity in money or in kind,
except as provided in paragraph x) of Article 37 of the Law.

9. What is the maximum price limit for the purchase of vehicles intended for purposes
of administration, management, and representation in 2020?
 On June 15, 2019, Supreme Decree 181-2019-EF was published.
through which a new limit for the deduction of expenses was established
incurred in steering vehicles, that the acquisition value of the referred vehicle
does not exceed 26 UIT (approximately USD 33,000). The mentioned Decree
The Supreme Court has established that this new limit will apply to those expenses.
that accrue from January 1, 2020, and regarding the vehicles that
acquired from June 16, 2019.

10. Mention 03 consequences for the company of being in the condition of NOT
HAD

Consequences of being marked as Not Found:

The condition of No Habido has the following consequences for you:

- Suspension of the computation of the prescription period so that the

Administration determines and requires you to pay your tax obligations.
(Art. 46 Tax Code).
- The SUNAT may impose precautionary measures prior to the start of a
coercive collection procedure. (Literal i) of article 56° of the T.U.O.
Tax Code - D.S. 135-99-EF.
- In case you request a payment installment plan for the debt according to the
Article 36 of the Tax Code, your request will be denied. (Literal c) of
Article 8 of the Regulation on Postponement and Installment Payment of Debt
Tax - Resolution of the Superintendency No. 161-2015/SUNAT.

• True or false: Indicate True (T) or False (F) in the following

statements (05 points)

1 According to the statistics, the tax regime with the highest number of F
registered taxpayers are in the MYPE regime
2 According to the statistics, the tax regime with the lowest number of F
taxpayers registered in the Special Regime
3 The corresponding debts a ESSALUD is a subject of V
tax fractioning
4 Monthly income advance payments are subject to fractionalization. F
tax
5 The annual depreciation allowed for tax purposes for the land without V
to build, it is 3%
6 The annual depreciation of land transport vehicles allowed F
the tax is 10%
7 The annual depreciation of the machinery and equipment used by the V
mining, oil and construction activities allowed for tax purposes
it is 20%
8 Expenses for donations are limited to 10% of Net Income. V
after the compensation of losses
9 In all cases, taxpayers must pay the fee of F
welcoming for the purposes of approving their requests for
tax fractionation
The debts corresponding to ONP are subject to installment payment. F
tributary

• Specify and detail the following aspects regarding the company that
they have analyzed in their Field Work (5 points):

Relationship of applicable taxes (brief description of each of them)

Taxes affected by IPESA HYDRO SAC

ESSALUD.–The contribution amounts to 9% of the remuneration.

It is the employer's mandatory obligation to declare and pay it.

in its entirety monthly to ESSALUD without withholding
some to the worker.
The payment is made using Form 1676 with SOL key,
or through Pago Fácil or Form 1076 (at authorized banks).
ONP. - The contribution to the ONP is equivalent to 13% of the remuneration.

The Office of Pension Normalization (ONP) is an Organization

Technical and Specialized Audience of the Economy and Finance Sector,
who is responsible for the administration of the National System of
Pensions (SNP) referred to in Decree Law No. 19990, as well as
The Social Security Regime for Workers and Pensioners
Fishermen, created through Law No. 30003, among others
pension regimes funded by the State.
The ONP recognizes, qualifies, liquidates, and pays pension rights.
in strict compliance with the legal framework. In addition, it informs and guides

to the insured about the procedures and requirements needed to

access a pension and other pension benefits.
When Workers require their transfer to the Private System of
Pensions (AFP), the ONP recognizes the contributions that must be
transferred through the qualification, issuance, and redemption of Bonds
Recognition and Complementary Bonuses.
WITHHOLDINGS OF 4TH CATEGORY:

They are required to withhold the 8% income tax when the

the fee to be paid is greater than 1,500 soles, unless the recipient of
the rent has SUNAT authorization so that it is not affected
withholdings.
The fourth category income is the income that natural persons
they obtain as a consequence of the work they perform in a
independent, according to the National Superintendency of
Tax Administration SUNAT.
Fifth category withholding:

For the National Superintendency of Customs and Administration

Tax (SUNAT), fifth category incomes are from work
staff borrowed in an employment relationship, including positions
public, elective or not, such as wages, salaries, allowances,
primas, diets, bonuses, allowances, holiday pay,
commissions in money or in kind, representation expenses and, in
general, all compensation for personal services.
- 1st Section from 0-5 OUT 8%

- 2nd Section from 5-20 at 14%

- 3rd Section from 20–35 AT 17%

- 4th section from 35–45 AT 20%

- 5th Section more than 45 UIT 30%

MONTHLY RENT (GENERAL REGIME OR MYPE)

The MYPE Tax Regime is aimed at Micro and Small Enterprises.

companies (Natural or Legal Person) that generate Third Income
Category whose net income does not exceed 1700 UIT in the year.
Advantages offered by this Tax Regime:
- The amount of tax to be paid is based on the profit.
obtained.

- You can issue any type of payment receipt.

- You can engage in any economic activity.

- Simple accounting, you keep the Sales Register, Register of

purchases and the simplified Journal format (up to 300
UIT)

- You can apply for the extension of the VAT.

IGV: Percentage is 18%

To calculate the VAT, we must keep in mind three

concepts:
- Tax Base: The calculation of VAT is done by applying 18%
in case of having a taxable base.

- IGV: Base Amount x 0.18

- Total Amount: Base = total/(1+0.18) or base = total/1.18

IGV= Total amount - Taxable base

The General Sales Tax is a tax that levies on all the
phases of the production and distribution cycle, is oriented to be
assumed by the end consumer.
SENCICO: Application rate 2%

It is applied to the taxable base, being the total income.

perceived or invoiced to the customer for materials, labor
of work, overhead, profit and any other item.
The contribution to SENCICO is canceled at the banks of
Tax collection by SUNAT and through the media
Access Electronics with the key SOL. The SUNAT transfers the
amounts to the National Training Service for the Industry of
Construction.
 ANNUAL RENT (GENERAL REGIME OR MYPE)

They are required to submit the Annual Affidavit of

Income tax for those who in 2020 would have obtained income or
third category losses that would have been subject to
General Regime and/or the MYPE tax regime of the Tax on
Rent.
They are also required to submit the declaration,
persons or entities generating income from Category Three
that they would have carried out operations subject to the Tax on the
Financial Transactions (ITF) for having made the payment of 15%
of their obligations without using cash or payment methods.

2. Tax regime that corresponds to it (based on its income)

Tax Regime: General Regime

3. 03 Tax findings that have been discovered

1. Through the review of the monthly statements from the months

from January to December of the year 2019, we have verified that the
Ipesa Hydro S.A submitted all its statements. What
it implies that it did not incur in the formal infringement of the article
176, numeral 01.
2. The company Ipesa Hydro S.A. is an agricultural construction company.
the industrial sector is part of an economic group. According to the records
monthly payments to SUNAT by the company Ipesa Hydro S.A. are
part of a Perception agent.
Through the analysis of the Income, it is confirmed that there is a credit
fiscal, that is, a balance in favor of the taxpayer resulting only from
2019 exercise. This implies that there is no tax credit.
coming from periods prior to 2019. In this regard, said credit,
according to law, it can be used starting in March of the following period or
in the month when the annual tax return is submitted.

4.03 Conclusions drawn based on each proposed finding

 1. The performance of the company Ipesa Hydro S.A during the period
2019 was positive, as it met its substantial obligations,
demonstrating a responsible attitude to comply with taxation, that is,
has tax responsibility; and formal obligations, such as the
presentation of your declarations within the established deadlines.
From the review and analysis of their operational processes, the
existence of various improvement opportunities. Additionally, to
through the interviews conducted, the impressions of
its main clients, regarding the quality of the service, and in this
meaning initiatives have been incorporated into the selected strategy
oriented towards enhancing customer performance and satisfaction, through
to improve and control processes by reducing costs and times
delivery of the projects.
3. According to the tax information presented, it is concluded that:
regarding the company's strategies related to its
Tax obligations have deficiencies in planning and control.
taxation. However, they do have a culture of
voluntary compliance with their tax obligations. It is concluded
also that the society does not engage in illegal practices, is constituted
formally, it seeks to have all of its documentation in
rule, and has established a tax culture practice counting on
internal norms and rules, also to raise awareness among the staff about the
correct practice of obligations in the accounting and legal aspects.

5.03 Recommendations you wish to propose to management for improvement

compliance with their formal and substantial tax obligations

In these times we are living through the pandemic, it becomes a bit difficult for us.

we can continue projecting our pending works, work is underway

50% on works that are halfway through the project and thus
way to continue working and be able to have economic income. It is being
carrying out virtual and in-person work with a certain amount of
personal in both situations and with a 30% forum in the facilities,
and with an established biosafety for the well-being of the working staff.
30% of the people with the greatest knowledge are accounted for.
in person and 20% with staff virtually.
3. It is recommended to consider that according to the current situation we are in

It is essential for the company to conduct a review of its

Financial statements as of July 31 to analyze whether they made profits or not in the statement.

of Results since, depending on that data, I could request the

SUNAT the suspension or modification of the advance payments of the IR of the
periods from August to December 2020.
4. A Tax Culture must be implemented, such as: knowledge,
the constant updating and analysis of the tax environment and the
current regulations that will be applied in Ipesa Hydro S.A., and this
it will allow for reasonable payment of Taxesy a decrease
significantly from the tax burden for them. Likewise, it is
important, regarding tax strategies, that the Management
establish training and updating policies and actions for
personal, specifically to the staff of the Accounting Area on Topics
Taxpayers, with the aim of reducing possible tax contingencies.