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5.1. Tax Base for Resident Entities

Under the domestic tax laws, resident companies are subject to corporate tax on worldwide income. All receipts as reduced by exemptions and deductions allowed under prevailing tax law are treated as income of such companies.

Gains arising from the sale, exchange or transfer of capital assets, including depreciable assets, shares are included in taxable income. Gains from sale or transfer of movable or immovable property acquired by inheritance are not included in taxable income.