Through Resolution No. NAC-DGERCGC24-00000008 dated February 29, 2024, the SRI (Internal Revenue Service) modified the withholding percentages of Income Tax (IR), changes that are applicable from March 1, 2024, and included some general provisions:

New withholding percentages:

The withholding percentage of IR is increased to 10% applicable to:

• Fees, commissions, and other payments made to resident natural persons in the country who provide services where intellect prevails over labor.
• Fees and other payments for teaching services to natural persons.
• Payments to individuals who have the ability to influence a significant number of followers through social media or 'influencers'.
• Payments made to notaries for activities inherent to their position.
• Royalties, royalties, rights, or any other payment or credit made to natural persons and corporations related to the ownership, use, enjoyment, or exploitation of intellectual property rights.
• Lease of real estate, regardless of its denomination or contractual modality, in which one party undertakes to grant the use or enjoyment of the property and another to pay, for this use or enjoyment, a certain price in money, goods, or services.

Items not detailed in this summary have no modifications.

Professional services provided by companies now have an IR withholding of 3%, as well as commissions paid to companies.