News published in INFORMA 2023

News published in INFORMA during the month of AUGUST

A company will not be able to deduct for tax purposes the expense corresponding to a surcharge for a fault related to safety measures at work , however, the total permanent disability pension and temporary disability benefits will be considered tax-deductible expenses.

In the event that the liquidation process extends over several tax periods, it should be understood that the limitation on the compensation of negative tax bases should not be applicable for the entity in relation to the income generated in the bankruptcy liquidation period.

The reduced tax rate that can be applied by newly created entities that carry out economic activities, is only applicable in the first tax period in which the tax base is positive and in the following tax period , regardless of whether the tax base in this period is positive or negative.

If the remuneration received by the director of the entity, sole shareholder, is recorded, credited and provided for in the company's bylaws, provided that the method and amount of such remuneration can be deduced from the bylaws, will be tax deductible, even if they have not been approved by the General Shareholders' Meeting.

A Compensation Board is a taxpayer of IS , and as long as it is not for profit, the partially exempt entity regime will apply to it. Therefore, will be obliged to file the IS declaration unless he/she is in the situation provided for in the third section of article 124 of the LIS .