ONAT affidavit process begins on January 6

The process of sworn declaration, liquidation and payment of the personal income tax, corresponding to the fiscal year 2024, begins on January 6 and concludes on April 30, 2025.

This is stipulated in one of the articles of the State Budget Law for the coming year, recently approved by the National Assembly of People’s Power, which insisted on the need for the National Tax Administration Office (ONAT), together with other institutions and agencies, to develop all initiatives that contribute to the success of this task.

The law itself specifies that taxpayers who file and pay by February 28 may benefit from a five percent rebate on the amount they must contribute as tax.

For individual agricultural producers in the sugarcane sector, the process of filing the tax return, liquidation and payment of the tax on the income obtained from their productions, excluding those derived from sugarcane, begins on July 1 and ends on October 31, 2025.

Those who file and pay before August 30 are granted a five percent bonus.

In the coming year, the Tax System will continue to be the fundamental source of financial resources for the State Budget, and in this purpose, as part of the Government’s projections, actions that contribute to the gradual reduction of the fiscal deficit play a determining role.

This is achieved through an increase in revenues, hence it will be necessary to effectively and sustainably transform the management and control over the compliance of each person’s contributions, and the implementation of tax measures that adjust to the conditions of the economy and minimize the evasion and avoidance gap.

But, according to experts, this is not enough if, at all levels of management, entities and territories, there is not a level of demand in the rational use and destination of budgetary expenditure, of material, human and financial resources available.

Proof of the leading role of the Tax System are the 23 taxes it covers, including those on personal income, profits, sales, services, land transportation, ownership or possession of vessels, transfer of goods and inheritances, special taxes on products and services, and customs duties.

There are also taxes for the idleness of agricultural and forest lands, for the use of the labor force, for the use or exploitation of beaches, bays, forest resources and wild fauna, for the right to use land waters and for the contribution to Social Security.

The list is completed by those established as territorial contribution for local development and the taxes for tolls, for airport services to passengers and for the placement of advertisements and commercial propaganda. (ALH)

Translated by Casterman Medina de Leon