Dissolution and liquidation of certain civil companies: Tax deferral regime
Regulations: transitional provision nineteenth Law Personal Income Tax
To civil companies with legal personality and commercial purpose that, prior to January 1, 2016, applied the income allocation regime of Personal Income Tax and that, as of that date, complied requirements to acquire the status of Corporation Tax taxpayers were offered the possibility of validly adopting in the first six months of fiscal year 2016 a dissolution agreement with liquidation and carrying out after the agreement, within the period of six months following its adoption, all acts or legal transactions necessary for the extinction of civil society.
For the partners of the civil society that opted for its dissolution and liquidation, it was established that there was a capital gain when they received credits, money or a sign that represents it, while for the remaining elements of assets that were awarded, taxation was deferred at the time. in which they were transmitted, the profit being then determined.
The rules for the valuation of assets and the taxation applicable to the partner based on the result obtained are as follows.
Valuation of assets
The value of acquisition and, where appropriate, ownership of the shares or participations in the capital of the civil company that was dissolved, was increased by the amount of the awarded debts and decreased by the amount of the credits and money or sign that represents it awarded. This is:
(+) Acquisition value of shares or units (1)
(+) Ownership value (2)
(+) Awarded debts
(-) Credits and money awarded
(1) In the case of civil companies that had kept accounting in accordance with the commercial code in the years 2014 and 2015 in accordance with the provisions of article 68 of the Personal Income Tax Regulation , it is the price or amount disbursed. for the acquisition of shares or participations. In the remaining cases, the acquisition value of the shares as of January 1, 2016 will be determined by the difference between the value of the property, plant and equipment and real estate investments, reflected in the corresponding record books, and the required liability, unless the existence of other heritage elements. (Back)
(2) In the case of civil companies that had kept accounting in accordance with the Commercial Code in the years 2014 and 2015 in accordance with the provisions of article 68 of the Personal Income Tax Regulations . (Back)
Taxation based on results
The acquisition value of each of the remaining asset elements awarded other than the credits, money or sign that represents it, was the result of distributing the positive result among them based on the market value resulting from the final liquidation balance. of the society that was becoming extinct.
Date of acquisition of awarded elements other than credits, money or sign that represents it
The awarded elements, other than credits or money, are considered acquired by the partner on the date on which they were acquired by the civil society that was extinguished, in accordance with the nineteenth transitional provision of the Personal Income Tax Law .