4.3.1. Taxable base

The tax base constitutes the value of the taxpayer's net assets.

The net assets will be determined by the difference between:

1. The value of the assets and rights held by the taxpayer and
2. Real charges and encumbrances, when they decrease the value of the respective assets or rights, and the personal debts or obligations that the taxpayer must pay.

In general, the gross tax base will be determined under the direct estimate regime.

When the circumstances provided for in article 53 of the General Tax Law are met, the indirect estimation scheme will apply.