As from February 18, 2019, penalties and fines for non-compliance with Law No. 5895/17 “which establishes transparency rules in the regime of companies incorporated by shares” (and its Regulatory Decree No. 9043/18) will be applied. In order to order the processing of virtual procedures, the Treasury Attorney's Office of the Ministry of Finance prepared a calendar through which it will start applying the penalties depending on the termination of the taxpayer's RUC.
This calendar will be used only at the beginning of the application of penalties and will lose its validity as from each date established according to the group of obligors by termination of the RUC. Afterwards, only the legal deadlines will remain as of mandatory compliance. That is to say, non-compliances or violations committed after the deadlines established in the calendar will be sanctioned in accordance with the deadlines established in the law and its regulations. Those committed prior to such dates will not imply penalties for a single time within the established calendar period.
This determination was made through TA Resolution No. 01/2019 dated January 8, 2019 and establishes the following schedule:
| Termination of RUC | Application as of: |
| 0 and 1 | February 18, 2019 |
| 2 and 3 | March 18, 2019 |
| 4 and 5 | April 18, 2019 |
| 6 and 7 | May 18, 2019 |
| 8 and 9 | June 17, 2019 |
The full contents of the resolution can be found in the “Legal Framework” section of the Treasury Solicitor's Office website (www.abogacia.gov.py).
If you would like more information about the requirements that joint stock companies must meet in accordance with current regulations, please do not hesitate to contact Perla Alderete (palderete@vouga.com.py) or Marco Colman (mcolman@vouga.com.py).
