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ARTICLE  5A:  TAX  EFFECTS  OF  LEGAL  ACTS  THAT  LACK  OF  A  BUSINESS  REASON  AND  THAT  GENERATE  TAX  BENEFITS

Legal  acts  that  lack  of  a  business  reason  and  that  generate  a  direct  or  indirect  tax  benefit,  will  have  the  tax  effects  that  correspond  to  those  that  would  have  been  made  to  obtain  the  economic  benefit  reasonably  expected  by  the  taxpayer.

In  the  exercise  of  its  faculties  of  verification,  the  tax  authority  may  presume  that  the  legal  acts  that  lack  of  a  business  reason  based  on  the  facts  and  circumstances  of  the  taxpayer  known  under  these  faculties,  as  well  as  the  assessment  of  the  elements,  the  information  and  documentation  obtained  during  them.  Notwithstanding  the  foregoing,  said  tax  authority  may  not  ignore  the  aforementioned  legal  acts  for  tax  purposes,  without  first  disclosing  said  situation  in  the  last  partial  act  referred  to  in  section  IV,  of  article  46  --615-Art.  46--  of  this  Code,  in  the  letter  of  observations  referred  to  in  section  IV  of  article  48  --615-Art.  48--  of  this  Code  or  in  the  provisional  resolution  referred  to  in  section  II  article  53-B  of  this  Code  --615-Art.  53B--,  and  the  deadlines  referred  to  in  the  preceding  articles  have  elapsed,  so  that  the  taxpayer  may  express  what  their  right  suits  and  provide  the  information  and  documentation  tending  to  distort  the  aforementioned  presumption.

Before  the  issuance  of  the  last  partial  act,  of  the  official  letter  of  observations  or  the  provisional  resolution  referred  to  in  the  preceding  paragraph,  the  tax  authority  shall  submit  the  case  to  a  collegiate  body  composed  of  officials  of  the  Secretary  of  Finance  and  Public  Credit  (Secretaría  de  Hacienda  y  Crédito  Público)  and  the  Service  Tax  Administration  (Servicio  de  Administración  Tributaria),  and  obtain  a  favorable  opinion  for  the  application  of  this  article.  In  case  of  not  receiving  the  opinion  of  the  collegiate  body  within  two  months  from  the  presentation  of  the  case  by  the  tax  authority,  it  will  be  understood  to  have  been  done  in  a  negative  sense.  The  provisions  relating  to  the  said  collegiate  body  will  be  announced  through  general  rules  issued  for  its  purpose  by  the  Service  Tax  Administration  (Servicio  de  Administración  Tributaria).

The  tax  authority  may  presume,  unless  proven  otherwise,  that  there  is  no  business  reason,  when  the  reasonably  expected  quantifiable  economic  benefit  is  less  than  the  tax  benefit.  Additionally,  the  tax  authority  may  presume,  unless  proven  otherwise,  that  a  series  of  legal  acts  that  lack  a  business  reason,  when  the  reasonably  expected  economic  benefit  could  be  achieved  through  the  performance  of  a  smaller  number  of  legal  acts  and  the  tax  effect  of  these  would  have  been  more  burdensome.

Are  considered  tax  benefits  any  reduction,  elimination,  or  temporary  deferral  of  a  contribution.  This  includes  those  achieved  through  deductions,  exemptions,  non-subjection,  non-recognition  of  a  cumulative  profit  or  income,  adjustments  or  absence  of  adjustments  to  the  tax  base  of  the  contribution,  the  accreditation  of  contributions,  the  re-characterization  of  a  payment  or  activity,  a  change  of  tax  regime,  among  others.

It  is  considered  that  there  is  a  reasonably  expected  economic  benefit,  when  the  taxpayer's  operations  seek  to  generate  income,  reduce  costs,  increase  the  value  of  the  assets  owned  by  them,  improve  their  market  positioning,  among  other  cases.  To  quantify  the  reasonably  expected  economic  benefit,  the  contemporary  information  related  to  the  operation  under  analysis,  including  the  projected  economic  benefit,  will  be  considered,  to  the  extent  that  such  information  is  supported  and  reasonable.  For  the  purposes  of  this  article,  the  tax  benefit  shall  not  be  considered  as  part  of  the  reasonably  expected  economic  benefit.

The  term  business  reason  shall  apply  regardless  of  the  laws  that  regulate  the  economic  benefit  reasonably  expected  by  the  taxpayer.  The  tax  effects  generated  in  terms  of  this  article  will  in  no  case  generate  consequences  in  criminal  matters.