Some considerations on taxes

Dear readers, it is important to keep in mind that taxes are the money that is paid for the provision of a public service, the public administration, i.e. the state, is in charge of demanding the payment of taxes. According to Corral (1995), he establishes that taxes are the predominant income in the sense of being the income that provides the highest collection compared to the others, as well as the decrease in citizens' income due to the increase in tax pressure. He also mentions that when talking about tax it is a public revenue that is characterized to finance the indivisible public services that are mandatorily required.

That is to say that the tax is the payment for the rendering of a public service, taxes are demanded by the state since it is its strongest income and through it the different improvements are made to satisfy the needs of the citizens and improvements that are required in hospitals, squares, streets, among others.

Now, all companies must make their respective declarations since it is a way to be solvent with the State. The companies, being the ones that obtain more income and their profit at the end of the year is higher than the common citizens, it is important to declare the income obtained in order to have a backup of where that income is obtained.

On the other hand, through the payment of taxes, specifically the income tax, the profit originated in a whole year is established and therefore it must be declared to the State. In this sense the payment of taxes has certain advantages such as being solvent with the public administration, you contribute to society so that with the declared money you make improvements and great contributions to the living conditions of citizens, you also maintain a good reputation since it is registered where your income comes from. In this sense it has become a fundamental requirement at the moment of asking for a credit to the bank, or for the acquisition of some good.

Finally, it is important to clarify that both individuals and legal entities are obliged to file an income tax return, regardless of whether they have to pay or not. It is necessary to take into account that in Venezuela individuals only pay if their net income exceeds 1000 tax units and gross income exceeds 1500 tax units. In the case of legal entities, they must pay whether they have had profits or losses during the fiscal year.