The tax base starts from the SL's accounting result: income minus expenses according to its double-entry books. That result is then adjusted as the law requires, for example for expenses that are not deductible, such as fines or donations that do not meet the conditions, and the applicable rate is applied. Newly created companies and smaller ones may have reduced rates.
The annual return is filed after the financial year closes and the accounts are approved. Depending on the case, the company may also have to make advance payments during the year, which are then deducted in the annual return.
The typical mistake is thinking that if the SL made no profit there is nothing to file. The return is mandatory even with no activity or a zero result. Another mistake is mixing the partner's personal expenses with the company's: the tax agency may reject them and the books get messy.
It is linked to the annual accounts filed with the Registro Mercantil, to VAT and to the withholdings the company makes. In kontora the SL's books are kept in double entry and the return is prepared box by box from them, with deadline reminders.
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