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ARTICLES

LEGAL RESOURSES

Exchange rate:

$ 17.26

    • ARTICLE 61: DETERMINATION OF PRESUMED INCOME

     

    Provided that the taxpayers are placed in any of the grounds for presumptive determination referred to in article 55 of this Code and cannot verify for the period under review their income as well as the value of the acts or activities for which they must pay contributions, shall be presumed to be equal to the result of any of the following operations:

  • If, based on the accounting records and documentation of the taxpayer or third-party information, the corresponding operations could be reconstructed at least thirty days as close as possible to the end of the year, the income or the value of the acts or activities, it will be determined based on the daily average of the reconstructed period, which will be multiplied by the number of days that correspond to the period under review.

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  • If the taxpayer's accounting records does not allow to reconstruct the operations of the thirty-day period referred to in the previous section, the tax authorities will take as a basis the total income or the value of the acts or activities they observe for seven days including the non-working days (CFF: Art. 12), at least, and the resulting daily average will be multiplied by the number of days that comprise the period under review.

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    The corresponding rate or tariff will be applied to the income or value of the acts or activities presumably estimated by any of the above procedures. In the case of Income Taxes (Impuestos Sobre la Renta), the fiscal profit will be determined in advance by applying the estimated gross income of the coefficient that, in order to determine said profit, indicated by the Law on Income Tax (Ley del Impuesto sobre la Renta).