On April 10th, 2019, the Legislative Assembly approved an amendment to Article 131 of the Tax Code, by which the annual revenue threshold that triggers a person's obligation to appoint a fiscal auditor to conduct a fiscal audit is increased. The new annual revenue threshold is the amount equivalent to 4,817 monthly minimum wages in the commerce and services sector (Currently, equivalent to USD$1,465,186.89 considering that the monthly minimum wage of this sector is USD$304.17).
Upon its entry into force, taxpayers who meet any of the following conditions would be required to appoint fiscal auditors and to be fiscally audited for the following years:
a) Having possessed, as of December 31 of the year previous year of the fiscal audit, total assets in excess of USD$1,142,857.14; b) Having obtained, in the previous year, revenue in excess of 4,817 monthly minimum wages in the commerce and services sector; c) legal persons resulting from the merger or transformation of companies, for the year in which such acts occur and the next one; and, d) the companies in liquidation for each fiscal year starting from the registration of the dissolution until the completion of the liquidation.
This amendment needs to be sanctioned by the President and published in the Official Gazette before it enters into force.
The legislative decree dated April 10th, 2019 containing the amendment may be consulted by clicking here (available only in Spanish).