11.9.1.5 Tax period and accrual

The tax period will coincide with the declared financial year and may not exceed twelve months. Unless otherwise declared, the tax period will be understood to refer to the calendar year.

The tax period will be deemed to have ended:

1. when the permanent establishment ceases its activity.
2. when the investment is disaffected on the day it was made.
3. when the transfer of the permanent establishment to another natural person or entity occurs.
4. when the head office moves its residence.
5. when the owner of the permanent establishment dies.

Non-Resident Income Tax will accrue on the last day of the tax period.