The true statement regarding the taxonomic system is:
The current taxonomic system is based on the Linnaean classification system.
The Linnaean classification system, developed by Carl Linnaeus, is still the foundation of modern taxonomy, although it has evolved to incorporate more genetic and evolutionary understanding. The other statements are inaccurate: not all living species have been cataloged, Charles Darwin did not create the taxonomic system (he contributed to the understanding of evolution), and not all extinct species have been cataloged either.