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Income Tax

HTML clipboardThe income tax came into effect after the average age in the late eighteenth century and not before that era, such as inheritance and the customs, when he settled in England as a tax extraordinary and temporary to cover needs exceptional.After gradually spread to other countries in Europe such as Germany and France, and United States of America and Latin American countries, applying the transient but not permanent, but from the first two decades of this century.

Almost always began under the schedular tax forms or mixed, to go then modified to convert your application to the system overall, particularly in developed countries or in the process of development.

The Income Tax.

The income tax levied on income, ie the gain that produces an investment or return of capital. It may also be the product of the work under dependency relation or proceeds from the exercise of a profession.

Individuals Obligation residents and nonresidents.

1 – Taxpayers residing or domiciled in Venezuela: According to Article 51 of the Law of Income Tax, are those whose stay in the country exceeds 180 days during any year, if it remains less than this time is considered as not resident for purposes of income tax. Residents are also those who in the immediately preceding period, have remained in the country over 180 days.

2 – non-resident or not domiciled in the country: Are those individuals who have remained less than 180 days in the country during a financial year.

The non-resident individuals are taxed on any amount collected, with the exception of income subject to withholding that are total wages and salaries, professional and dividend income.

A non-resident employees, they must withhold 34% of the total remuneration paid to them, the same percentage be withheld in the case of professional income. in this case taxpayers do not enjoy such tax rebates and reliefs that are given to residents who are paid and professional fees.

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