MinCIT issued Decree 1311 of October 20, 2021 in which it decrees the alternative of the recognition and presentation of the deferred tax due to the change in income tax, therefore some points to take into account with this decree are mentioned:

• For the posting of deferred tax, the 35% rate must be found.
• The deferred tax generated by the change in income tax rates may be recognized in the entity’s equity.
• It will be allowed to add to the project of distributions of dividends of the companies for the year 2021, the value of the expense for the deferred tax that is generated by this change of rates.

However, there are some criticisms of the standard issued, taking into account that the Ministry would be carrying out functions associated with the Technical Council of Public Accounting, in addition to generating a greater operational burden on information preparers, as well as generating different interpretations among the guild of Accountants as indicated by the National Institute of Accountants