On 1st October 2019, the Executive Branch sent 2020 draft budget bill to the National Congress the 2020 draft budget bill for its knowledge, discussion and approval.
The bill proposes measures to extend the rules on interest deduction and transfer pricing, measure that would introduce the exchange of country-by-country (CbC) reports, measure that would implement advance pricing agreement for hospitality sector, a digital service tax to withheld it at the same rate as the transfer tax through foreign electric platforms, a 3% special tax rate for the voluntary declaration of foreign currency, financial instruments and securities, properties, and inventories of goods for sale. On 26 September 2019, the Council of Ministers approved this draft bill.
