Law 40 of 2013, the Tax Burden Redistribution and Adjustment Act (Ley de redistribución y ajuste de la carga contributiva), introduced various amendments to the Tax Code 2011 regarding its provisions on individual income taxation. The Law is effective for taxable years commenced after 31 December 2012. Some of the most important amendments are listed below: -   introduction of an additional tax on self-employed individuals deriving gross income in excess of USD 200,000 per taxable period. This tax is charged at a rate of 2% on the self-employed individual's gross income. The new tax is neither: -   deductible...