The National Directorate of Tax Revenue (DNIT) reminds taxpayers that this month of March is the deadline for the settlement of the Personal Income Tax (IRP) corresponding to the fiscal year 2024. The institution estimates that around 300,000 taxpayers must submit their sworn declaration through the Marangatú System, in accordance with the perpetual calendar of deadlines.
To comply with this obligation, there are two different forms: Form No. 515, which is used to declare income from the provision of personal services, and Form No. 516, which is used to declare income and capital gains. For more information, taxpayers can visit the IRP section on the DNIT website or contact the Call Center at +595 (0) 21 729 7000.
The DNIT reports that the IRP for personal services taxes income from Paraguayan sources that comes from personal, professional or non-professional work, provided by a resident in an employment relationship or not. It applies to individuals who obtain taxed income of more than Gs. 80,000,000 during the fiscal year.
Taxpayers are described by the DNIT as “university graduates, technicians, artists, athletes, customs agents, commission agents, employees, people who hold public office (elected or not), permanent or contracted in any agency or entity dependent on the State, including binational ones”.
On the other hand, capital income is the profit in money or in kind that comes directly or indirectly from the assets, property or rights belonging to the taxpayer.
In addition, it includes any increase in the taxpayer’s assets that does not come from income derived from the provision of personal services, such as rent. Taxpayers are individuals, undivided estates, parents, tutors or curators, reports the National Directorate of Tax Revenue.
