Paraguay (PY)

Jurisdiction Overview

188 *Is there an obligation to keep accounting data? Yes
 Data Date: 2019


Article 86 of Law 1034 on Trade, published in 1983, detemines that companies are obliged to keep the books, records and documentation referred to in articles 74 and 75. While according to article 74, the obligation applies to companies whose capital exceeds the amount corresponding to one thousand minimum wages, this seems to be a very low threshold and we consider that the obligation is sufficient (Google translation from Spanish of Law 1034 on Trade published in 1983: Article 74). According to Deloitte: "Financial statements must be prepared annually." (Deloitte 2019: 1).
DATA WARNING: Paraguay is not a member of the Global Forum and has not been reviewed yet.