Executive Decrees

Update of the “luxury homes tax” for the 2016 period

Pursuant to Executive Decree No. 39399-H dated December 7th, 2015, the General Tax Administration established that the amount exempt from the Solidarity Tax (luxury homes) for the 2016 period will be equivalent to a fiscal construction value of ¢126,000,000 (including fixtures value). In addition, the tax brackets were updated in accordance with the following chart:

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Please be reminded that this tax return must be filed and paid no later than January 15th, 2016.

(Published in the Official Gazette No. 247 dated December 21st, 2015)

Update of the tax on non-alcoholic beverages and toilet soaps

Pursuant to Executive Decree No. 39400-H dated December 7th, 2015, the amounts for the specific taxes on canned non-alcoholic beverages (excluding milk) and toilet soaps were updated based on the following chart:

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These amounts will be effective from January 1st, 2016.

(Published in the Official Gazette No. 247 dated December 21st, 2015)

NEWS

Base salary for the calculation of tax penalties

Under communication No. 241-2015 the Office of the General Secretary of the Supreme Court of Justice informed that the amount of the applicable base salary to define the tax penalties during 2016 will be equivalent to ¢424,200.00.

TAX OBLIGATIONS

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RELEVANT INFORMATION FOR TAX PURPOSES

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Legal Entities Tax

A list including the non-complying companies of the Legal Entities Tax, for the 2015 period, was published. The Tax Authorities informed that a formal claim for payment will be submitted before resorting to a judicial collection process. All fiscal periods until 2015 will be subject to collection, and partial tax payments will be allowed. As the new Legal Entity Tax Law has not yet been approved by Congress, no tax obligation will be effective for the 2016 fiscal period.