On 29 January 2020, the Internal Revenue Service (SRI) published an Administrative Resolution in the Supplement of the Official Registry 131, which specifies the procedure for filing the tax return and the annual payment of the temporary tax for the fiscal years 2020, 2021 and 2022. According to the Resolution, the taxable base is equal to the income obtained on the fiscal year 2018 less the exempt income and income not subject to income tax. Companies who did not generate income tax in the fiscal year 2018 do not require to submit and pay the temporary tax return. On the other hand, Entities liquidated until December 31, 2019 are not required to pay the temporary tax. Also, a substitute tax return has to be filed in a situation when taxable amount and the taxable amount disclose in the income tax return filed for the fiscal year 2018 changes.
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