imageGuinea Bissau | Decree No. 33/93, of 10 August 1993

Amendment to the Corporate Income Tax Code - 1993

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Decree No. 33/93 of 10 August The Corporate Income Tax Code was approved by Decree No. 39/83, of 30 December 1983. The application of this Code in 1988 led to the conclusion that slight amendments needed to be implemented, which were formalized in Decree No. 24/88, of 13 June 1988. The current significant adjustments aim to, essentially, simplify taxation methods, strengthen taxpayer guarantees, reduce resistance to the payment of the tax and create rules that allow for a better surveillance of tax obligations. The first amendment, of a structural nature, translates into a decrease in the number of corporate income tax groups to two, with the boundary between the groups (A and B) being fundamentally based on whether or not the taxpayers are capable of maintaining organized accounting, even if simplified. Conversely, the possibility of administrative appeal to the determination of the taxable amount has been reformulated, with emphasis to the existence of a review committee where the taxpayer is represented. Within the scope of group A, payments on account have been implemented for the tax to be paid at the moment of delivery of the tax return. This change originates from objectives related to a greater tax distribution for taxpayers throughout the fiscal year and to a steadier inflow to State coffers. For group B, more expeditious taxation processes are introduced, given the characteristics of the activity of the taxpayers of this group. An opportunity was also seized for the creation of new ancillary obligations for some public entities, in relation to their duty to cooperate with the tax administration. Therefore, upon proposal from the Minister of Finance, the Government hereby decrees, pursuant to paragraph 2 of article 100 of the Constitution, the following:

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