One year exoneration of the payment of Income Tax for Cooperative Associations

Presidential Decree No 4 695 was published in Official Gazette No 42 339 of June 15 2022 exonerating from the payment of Income Tax (the territorial net taxable income obtained by Cooperative Associations Please find below the most relevant aspects of this Decree :

1. Exoneration By means of the Decree, the territorial net taxable enrichments obtained by Cooperative Associations, constituted under the Decree with Force of Law on Cooperative Associations are exonerated from the payment of IT (article 1).

2.Update of the Tax Information Registry and the Certificate of Compliance issued by the National
Superintendence of Cooperative Associations T o take advantage of the exoneration, the Cooperative Associations must update their Tax Information Registry, for which they must
submit their current Certificate of Compliance, issued by the National Superintendence of Cooperatives (article 2).

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