A statement from Finance to taxpayers regarding the revaluation of inventory
– 02/05/2025 regarding the revaluation of 2023 inventory.
– 01/31/2025 regarding the revaluation of 2024 inventory.
Noting that if this obligation is not adhered to, taxpayers will lose their right to conduct a revaluation of their inventory.
The reasons for the reminder stated:
Whereas Clause First of Article Two of Law No. 330 dated 12/05/2024, permitted real and legal persons charged with income tax on the basis of real profit who are obligated to maintain regular accounting in accordance with legal or regulatory texts, and for the periods ending on 12/31/2026 for those who They approve the civil fiscal year, and the end of the business year is 2026. For those who approve a special fiscal year, they must conduct an annual re-evaluation of their stock balance as At the end of the business year, starting from the 2022 business year until the end of the 2026 business year, provided that they submit an application to the tax administration within a period of two months from the date of entry into force of this law for the year 2023 and during the first month of each subsequent year, attaching to it a pledge from the taxpayer to retain all the documents stipulated. It is stipulated in Clause Three of this law.
Whereas the tenth paragraph of this clause allows taxpayers based on the lump sum or estimated profit to conduct a revaluation of their inventory in the event that they submit a request to the tax administration to transfer their assignment to the basis of the real profit before starting the revaluation process.
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