START THE NEW SCHOOL CYCLE: CHECK IF YOU MEET THE REQUIREMENTS FOR THE DEDUCTION OF TUITION

22/9/2020

Despite the extraordinary circumstances derived from the pandemic caused by COVID-19 and the impediment to returning to classes in person, it is important that those who continue in the private school scheme consider the following:

The start of the new school year is the opportunity to begin to meet the requirements for the deduction of tuition fees, avoid any setback when preparing the annual return, and thus obtain the benefit of the return of the balance in favor of ISR, if it is the case.

According to the Tax Benefit Decree published on December 26, 2013, individuals with children in private schools in the country, from preschool to high school, technical education or equivalent, may deduct the expenses incurred for tuition.

The benefit is also valid for payments for educational services for the taxpayer himself, as well as for his spouse, and for the ascendants or descendants in a straight line of the taxpayer who intends to deduct them; provided that the beneficiaries do not receive during the calendar year income equal to or greater than a high UMA per year ($ 31,693.80 for 2020).

It should be noted that the number of students in the family does not matter, since the maximum deduction limits are per student and not per family according to the following:

Education level	Annual deduction limit (Weights per student)
Preschool	$ 14,200
Primary	$ 12,900
High school	$ 19,900
Technical professional	$ 17,100
Baccalaureate or its equivalent	$ 24,500