The tax reform has been approved. Find here what their chapters consist of:
  • Impact on tax rates
 2016  2017  2018  2019
 25%+9%+8% About equity tax  34%+5% About income tax  33%+3% About income tax  32%
Article 98. Amend article 240 of the tax statute.
  •  Companies Law 1429
Companies Law 1429 that are between the third and fifth year will benefit from reduction in the rate thus:
Current equity and income tax  Income tax reform proyect
 3 year 2017  6,25%+9%+8%  9%+5%
 4 year 2018  12,5%+9%+8%  9%+3%
 5 year 2019  18,75%+9%+8%  9%
 Article 98. Amend article 240 of the tax statute.
  • Casual Earnings

En el momento de enajenación de un inmueble, en caso de tomarse como costo fiscal el avalúo o auto avalúo, se restarán del costo fiscal las depreciaciones que hayan sido deducidas para fines fiscales. De esta forma la recuperación de la depreciación pasará de estar gravada del 34% al 10%
At the time of disposition of a property, in the case of taking as a fiscal cost the valuation or self-valuation, the deductions deducted for tax purposes will be deducted from the fiscal cost. In this way the recovery of the depreciation will go from being taxed from 34% to 10%.
Article 49. Add a second clause to article 72 of the tax statute.
  • Presumptive rent

The presumptive rent goes from 3% to 4%
Article 93. Amend article 188 of the tax statute.
  • Tax bases

The tax values ​​of the fixed assets will be those of the opening balance of IFRS and the depreciation determined according to policies. Without these can be accelerated above what the government regulations, that will be between 4% and 33% per year.

Investment properties that are measured under the fair value model for tax purposes will be measured at cost.

  • Employee exempt income

Employees will pass from an exempt income of 25% to 35%, including voluntary contributions to pension funds and AF, which will be injured, as these will be exempt income and non-income not constituted or occasional gain.
Article 336.
However, article 11 indicates that the contributions to voluntary funds and AFC are income not constituting rent or occasional gain which contradicts the treatment of exempt income in article 14 of the reform project.
  • Pensioners with labor incomes
The determination of the income tax of natural persons will be cedular, and since the exempt income can only be taxed on one of the cedulas, the working pensioners will have a higher contribution rate, since they can only take this benefit for the income received by the pension.
Article 336.
  • Deductions for care expenses
The maximum amount to be deducted for the total attention to customers, suppliers and employees, such as gifts, courtesies, parties, meetings and celebrations, will be 1% of tax revenues net and actually realized.
Article 62. Add to article 107-1 of the tax statute, paragraph 1.
  • Limitation of Donations
Donations will not be deductible from income and complementary taxes, but will give rise to a discount equivalent to 20% of the amount donated in the taxable year. The tax deductions as a whole may not exceed 20% of the income tax payable by the taxpayer in the respective taxable year.
Article 103. Amend article 257 of the tax statute.
Article 104. Amend article 258 of the tax statute.
  • VAT increase
The general sales tax rate is 19% except for the exceptions contemplated.
Article 181. Amend article 468 of the tax statute.
  • Tax on dividends paid to natural persons and foreign companies
 From the taxable year 2017, dividends and shares paid or credited to natural persons, arising from the distribution of profits that have been considered as income not constituting income or occasional gain, will be subject to rates of 5% and 10%. Those arising from distributions of taxable profits will be subject to a rate of 35%. Dividends and shares received from foreign companies and entities will be taxed at the same rate.
Article 5
  • Firmess of declarations
 The term of firmness of statements goes from 2 to 3 years. In those that determine or compensate fiscal losses will be of eight years counted from the date of its presentation.
Article 86. Add the final paragraph of article 147 of the tax statute.
Article 239. Amend article 714 of the tax statute.