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Form 100. 2020 Personal Income Tax Return Declaration

Contributions to social security systems attributed to employed personnel

The following will be included among others:

  • Contributions made by the employer as promoter of a Pension Plan, as well as those made to company social security plans in which its employees are participants or insured, provided that they are attributed to each participant or insured in the corresponding part, except in the case of those made in favor of beneficiaries in an extraordinary manner to guarantee current benefits, as a consequence of a deficit in the pension plan.

  • Contributions made to cover contingencies similar to those of pension plans, provided that a series of requirements are met:

    1. Charged for tax purposes to the persons to whom the benefits are linked.

    2. That the payer irrevocably transfers the right to receive future benefits.

    3. That the payer transfers ownership and management of the resources that comprise said contributions.

Allocations to provisions and internal funds for the coverage of contingencies identical or similar to pension plans do not constitute deductible expenses for the year in which they are allocated; they may only be deducted in the year in which, due to the covered contingency occurring, the benefits are paid.