Although the Commercial Code is clear on the extent of the obligation of management accounting to all types of business, in practice tax law which sets the tone, so we will analyze tax obligations for employers depending on their legal status and the chosen method for profit estimations in the case of individuals (self-employed).
From a legal perspective, there are two large groups:
- Commercial companies that must file income tax
- Self-employed who pay taxes from econominc activities yield on the “Impuesto de la Renta de las Personas Físicas”, being able to choose between:
- Regular direct estimate
- Regular simplified estimate
- Objective estimate, also know as “módulos”