Tax Department report | New measures with tax impact.
In attention to the current publicly known epidemiological situation, due to the coronavirus (COVID-19), we hereby inform you about the main measures adopted with tax impact:
Extension of the term to subscribe to the “Instalment Payment Plan for Tax, Social Security and Customs Obligations of Small and Medium Size Businesses (PyME)”
The Government issued the Necessity and Urgency Decree No. 316/2020 (hereinafter, the NUD), published on the Official Gazette on March 28, 2020, under which the term to subscribe to the “Instalment Payment Plan for Tax, Social Security and Customs Obligations of Small and Medium Size Businesses (PyME) ” (the “Regime”) has being postponed.
On this concern, the above-mentioned Regime was enforced by the “Social Solidarity and Production Reactivation Law” No. 27,541 (published on December 23, 2019), jointly with other tax and economical measures. This Regime provides that taxpayers registered as PyME and non-profit civil entities, can request for their tax, social security and customs debt (concerning obligations due until November 30, 2019) to be paid under an instalment payment plan. This plan includes, in general terms, (i) the waiver of any fine and/or sanction that may have been applied, (ii) total or partial waiver of the accrued interest, and (iii) the possibility to pay in installments such debt and non-waived accrued interest.
Pursuant to section 8 of Law No. 27,541, taxpayers were allowed to apply to the aforementioned Regime until April 30, 2020. Nevertheless, the NUD postponed this due term until June 30, 2020.
Special Regulation on Debit/Credit Notes
On 2019, the Federal Tax Authority issued General Resolution No. 4540/2019 and established a special regime applicable to the issuance of Debit/Credit Notes. This regime provides special requirements that these documents must complied with, in order to be deemed as valid for tax purposes.
Although this regime was meant to be enforced as of April 1, 2020, pursuant to General Resolution 4688/2020 (published on today’s Official Gazette) this regime will be enforced as of May 1, 2020 instead.
Moreover, regarding the operations performed before said date under the “Electronic Credit Invoices Special Regime for Small and Medium Size Businesses (PyME)”, General Resolution 4688/2020 provides that only Debit/Credit Notes issued by the same taxpayer as the invoices, can be used in order to assess the net price of the enforceable document to be traded.
Suspension of the exclusion and automatic cancellation under the Simplified Tax Regime for Small Taxpayers (Monotributo)
Through General Resolution N°4687/2020 (published in the Official Gazette on March 28th, 2020), the Federal Tax Authority decided:
(i) to suspend up to April 1st, 2020 the Monotributo’s exclusion procedure; and,
(ii) that, as a temporarily measure, this month (march 2020) should not be considered for the term calculation that leads to the automatic cancellation of the Monotributo (lack of payment for 10 consecutive months).
Should you require any further information, please do not hesitate to contact us.