On 27th of January this year was approved the bill of Tax Reform Simplification, which was realized with the publication in the Official Journal of Law No. 20,899 Law dated February 8th, 2016, which ultimately simplifies system of taxation on income and other tax laws perfected.

The law has established the simplified system of taxation on income (Income Attributed – Semi Integrated), adjustments to the Law on Tax on Sales and Services (property transaction) and improved the effectiveness of anti elusion standard.