Regulatory Alerts2026-08-21 | Resolución SBS 2104-2026Added
SBS Resolution No. 2104-2026: Amending the Accounting Manual for Financial System Companies, the Accounting Manual for Private Pension Fund Administrators, and the Chart of Accounts for Insurance System Companies; Creating a Controversy Report
The resolution modifies the Accounting Manual for Financial System Companies, the Chart of Accounts for Insurance System Companies, and the Accounting Manual for Private Pension Fund Administrators to incorporate accounting guidelines for payments made in tax controversies and their provisions. It mandates that supervised entities, including banks, insurance companies, AFPs, and specific state-owned financial institutions, prepare a new semi-annual "Individual Report on Tax Controversies in Which Prior Payments Have Been Made" containing details such as the controversy summary, determination amount, current instance, paid amount, and impairment provision. The new accounting treatment is effective for information from December 2026, with the first submission of the controversy report due in the first semester of 2027.
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