Two or more operations may be comparable as long as there is no economic difference between them that can affect the price of a good or service.
Jose Molina Calderon's article in Prensalibre.com reports that "for the purposes of determining a price or amount that can be agreed between independent parties in comparable transactions in conditions of free competition as referred to in Chapter VI of the Tax Update Law (LAT by its initials in Spanish), comparing the conditions of transactions between related persons other comparable transactions between independent parties.
According to a Constitutional Court decision, contributions to all pension funds may be deducted from taxes.
Before this decision only contributions to pension funds authorized by the Superintendence of Banks were deductible from income tax (ISR).
The ruling goes further and states that any mechanism for funding an individual´s pension plan may be deductible, "any mechanism for pensions and retirement which is individually funded will be fitted to deduct income tax", established the ruling.
The Superintendence of Tax Administration (SAT) clarified that it will only accept deductions on income tax from pension funds authorized by the Social Security Institute (IGSS).
Omar Franco, collection manager of SAT, stated that under current law, banks and financial institutions do not have approved pension funds or retirement plans, and that those are investment funds or future schedule plans, but not pension funds.