Beta Version
Website Last updated:
July 17, 2026
Article 22 establishes the State's fiscal year as the default taxable year. However, it permits a taxpayer to adopt an alternative 12-month period, subject to conditions specified in the Regulations. The Article provides for the creation of a 'short independent fiscal period' to account for the interval when a taxpayer changes their taxable year. It also clarifies that the first year of a new taxpayer, or the final year for a business discontinuing operations, may be treated as a short fiscal year, unless the Companies Law mandates a long one. Critically, it mandates that all related companies, as defined in Article 64, must use the same taxable year.
Chapter 6 - Tax Accounting Rules
Article 22 - Taxable year
Continue Reading
Access Full Content
You're viewing a preview of this document. Please log in to unlock the complete content, annotations, and research tools.Click here to view details of the free plan and the subscriptions we offer.