Understanding the Devengado Tributario and its Relationship to Income Tax and Accounting Principles

The principle of devengamiento tributario states that income and expenses are recognized when they occur.

There is a difference between cost recognition and income recognition in terms of devengamiento.

The recognition and devengamiento of income are closely related, but there can be differences, especially in financial matters.

📚 The video discusses the concept of el devengamiento, which is the recognition of income in accounting.

👥 There is confusion regarding whether companies should follow the contractual agreement or the legal principle when it comes to el devengamiento.

💰 The recognition of income depends on the type of category, with rentas de primera categoría following el devengamiento and rentas de segunda categoría following el percibido concept.

📝 The devengado tributario is a concept that applies to both individuals and juridical persons.

💰 The devengado principle states that income and expenses should be recognized when the right to receive or pay arises, regardless of when the actual payment or receipt occurs.

📋 There is a distinction between devengado contable (accounting recognition) and devengado jurídico (legal recognition), which can lead to complexity in certain situations.

💡 The video discusses the concept of devengado tributario in relation to the Impuesto a la Renta.

📝 The doctrine and the tribunal fiscal have mostly favored the use of devengo contable, but there are some recent cases that lean towards devengo jurídico.

🔑 Devengo refers to the recognition of income or expenses once certain conditions stated in the contract are fulfilled.

Recognition of income is dependent on knowing and recognizing the corresponding costs and expenses.

Future sales cannot be recognized until the goods exist and the costs related to those goods are known.

An exception allows for the deduction of expenses in a later year if it was not possible to know them in the original year.

💡 The concept of 'devengado tributario' in income tax is explained, which allows taxpayers to deduct expenses in the same year they are incurred.

💡 The difficulty of crediting expenses in a later year and the benefits of deducting expenses in the same year are discussed.

💡 An exception to deducting expenses in the same year is mentioned, where certain payments classified as rental income can be deducted in the year they are paid.

📝 The video discusses the general aspects of income tax and the concept of accrued revenue.

💰 The law states that for certain types of income, it doesn't matter when it is accrued, but when the expense is recognized in order to match the expense with the income.

📅 There are exceptions to this rule, such as if the expense is paid before the end of the fiscal year, it can be deducted in that year.