AFIP General Resolution No. 4714/2020: Income Tax and Value-Added Tax (VAT) deadlines extension – Installment Payment Plan for legal entities and other measures with tax impact.
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Tax Department report | AFIP General Resolution No. 4714/2020: Income Tax and Value-Added Tax (VAT) deadlines extension – Installment Payment Plan for legal entities and other measures with tax impact
Dear Sir or Madam,
We hereby inform you about the following measures with tax impact:
1. AFIP General Resolution No. 4714/2020. Through this Resolution, the Federal Tax Authority (AFIP) extended the due date to file and pay the FY 2019 Corporate Income Tax return (tax year ended in December, 31st, 2019), setting the new due dates between May 26th, 2020 and May 27th, 2020, depending on the taxpayer’s Tax ID. Likewise, Companies whose tax year ended in November 2019, are allowed to file the FY 2019 accounting reports, financial statements and auditor reports up to June, 30th, 2020.
Furthermore, the AFIP extended the due date to file and pay the VAT tax return of the tax period April 2020, setting the new due dates between May 20th, 2020, May 21th, 2020 and May 22nd, 2020, depending on the taxpayer’s Tax ID.
Also, the AFIP exceptionally established that up to June 30th, 2020 the companies will be allowed to cancel their fiscal obligations regarding the Corporate Income Tax, in up to 3 installments, making a 25% payment in advance, for which SIPER categorization shall not be considered.
Additionally, the AFIP extended the number of permanent maximum installment payment plans that the companies not included in the category “Small and Medium Size Companies -Tier 1-” can apply to.
2. AFIP General Resolution No. 4715/2020. Through this Resolution, the AFIP exceptionally allowed the use of blue stamps (generally used to identify locally produced cigarettes) for the retailing of imported cigarettes up to September 3rd, 2020.
3. Law N°6301 “Economic and Financial Emergency” (City of Buenos Aires). Through this Law, the legislature of the City of Buenos Aires declared the financial and economic emergency, authorizing the executive branch to establish the following tax measures:
• Discounts and bonifications for the taxpayers, in order to promote the anticipated payment of the installments due in the second semester of the current year. Benefits that may arise up to 30% of the total amount to be paid for “ABL” (a tax paid for the lighting, sweeping and cleaning of the public streets) and the vehicle tax.
• The possibility of paying in advance a portion of the Turnover tax in which case the government may recognize for those taxpayers a fiscal credit which could arise up to 30% of the amount of the payment. Both the payment in advance and the tax credit could be used as from 1/1/2021 to pay the turnover tax.
Also, it is established that the authorities of the City will not apply for judicial protective measures (such as liens) in tax execution judicial processes up to 6/30/2020. Granting the tax authorities, the possibility of extending this term.
Should you require any further information on this matter, please do not hesitate to contact us.
Sincerely,
Santiago L. Montezanti