06 November 2019 Paraguay announces tax reform applicability dates Taxpayers should be aware of the various applicability dates for the tax reform provisions, especially the applicability date for the new transfer pricing rules. Paraguay's Executive Power has issued Decree No. 2787/19, which establishes the applicability dates for the recently enacted tax reform (Law No. 6380/19) (see Tax Alert 2019-1823). Under the decree, some tax reform provisions are effective immediately. Other provisions are effective as follows: Most of the tax reform provisions will be effective January 1, 2020, including the new business income tax, tax on dividends and earnings, personal income tax, nonresident income tax, value-added tax and excise tax provisions. For taxpayers with an April year-end, the corporate income tax provisions will be effective May 1, 2020. For taxpayers with a June year-end, the corporate income tax provisions will be effective July 1, 2020.
Document ID: 2019-1982 | |||||||||||||||||||
