Facts to keep in mind about the 2021 corporate income tax return

On April 7, 2022, the deadlines for filing the income tax return of legal entities for the taxable year 2021 begin.

The generalities that you must take into account to prepare this income tax return.

The income tax returns of legal entities corresponding to the year 2021 continue to be subject to the version of the rules modified and introduced by Law 2010 – 2019.

Although during 2021 the national government issued a new tax reform, Law 2155, its novelties will be applied for the taxable year 2022.

In order to prepare the income tax return for the taxable year 2021, it will be indispensable for legal entities to take into account the following details:

Corporations and entities subject to income tax.

According to art. 5 of the Tax Statute, the income tax and complementary tax is considered as a single tax and includes those that are settled based on income and occasional profits, as well as on commercial profits in the case of branches of foreign companies and entities.

Article 12 of the Tax Statute specifies that domestic companies and entities are taxed both on their income and occasional gains from domestic sources and on those originating from foreign sources. In contrast, foreign corporations and entities are taxed only on their income and occasional gains of national source.

Article 13 of the Tax Statute states that limited liability companies and similar entities are subject to income tax.

Source: Actualícese

Declaración de renta de personas jurídicas AG 2022: puntos clave que no puedes perder de vista