Tax Department Report | Measures with tax impact: AFIP General Resolution No. 4697/2020 and others
Dear Sir or Madam,
We hereby inform you about the following measures with tax impact:
1. General Resolution No. 4697/2020 (Federal Tax Authority) | Replacement of the informative regime established by General Resolution (AFIP) No. 3293/2012.
Through General Resolution (AFIP) No. 4697, the informative regime established by General Resolution (AFIP) No. 3293/2012 was replaced, in order to: (i) collect additional information from the investment funds; (ii) incorporate the obligation for local legal entities to inform the beneficial owner, and (iii) implement the “Registry of Foreign Passive Entities” created by Section 90 of Law No. 27,260 and its amendments.
General Resolution (AFIP) No. 4697/2020 entered into force today; it is the annual informative regime provided by Title I, applicable as indicated below:
a) Subjects mentioned in point 1. (corporations, trusts, investment funds, and other local entities) and 2. (individuals domiciled within the country and undivided estates based in Argentina) of Section 1: For the corresponding information as of December 31s, 2019, and following years.
b) Subjects mentioned in point 3. (local owners of more than 50% of the shares or equity participations and/or individuals holding certain positions in foreign entities -except trusts and foundations- that obtain a passive income higher than the 50% of their gross income during a calendar year) of Section 1: Regarding passive income obtained in 2016 and following years.
The due date for the compliance of the annual informative regime provided by Title I for FY2019 and FYs 2016, 2017 and 2018, as the case may be, was set between October 28th, 2020 and October 30th, 2020, depending on the information agent’s tax ID.
2. Disposition No. 4/2020 (Multilateral Agreement Authority) | Extension of deadlines related to Turnover Tax.
Through Disposition No. 4/2020, the Multilateral Agreement Authority extended the due date to file the third FY 2020 advanced payment tax return and its payment, setting the new due dates between April 27th, 2020 and April 30th, 2020, depending on the taxpayer’s Tax ID.
Bear in mind, this measure is only applicable to taxpayers included in the Multilateral Agreement, whose business activity is carried out in the jurisdictions detailed in Annex II, as long as their annual revenues FY2019, were equal to or lower than AR$ 2,500,000.-.
3. Resolution No. 166/AGIP/2020 (Tax Authority of the City of Buenos Aires) | Tax proceeding terms.
Through Resolution No.166/AGIP/2020, the Tax Authority of the City of Buenos Aires stated that days running from April 14th, 2020 to April 27th, 2020 shall not be computed in tax proceedings.
However, such a measure is not applicable to terms related to criminal proceedings.
4. Resolution No. 168/AGIP/2020 (Tax Authority of the City of Buenos Aires) | Extension of due dates for the payment of the Real Estate Tax – Lightning, Sweeping and Cleaning Tax (the “ABL”) – Vehicle Tax
Through Resolution No. 168/AGIP/2020, the Tax Authority of the City of Buenos Aires extended up to April 27th, 2020 the due date to pay the fourth installment FY 2020 of the Real Estate Tax and the “ABL” and the second installment FY 2020 of the Vehicle Tax.
Bear in mind, this provision is not applicable to those taxpayers included in the Special Control System (“Sistema de Control Especial – S.C.E.).
5. Resolution No. 24/2020 (Tax Authority of the Province of Buenos Aires) | Extension of the Installment Payment Plans’ due dates
Through Resolution No. 24/2020, the Tax Authority of the Province of Buenos Aires (the “ARBA”), extended up to June 10th, 2020 the due date to pay the Installment Payments Plans’ advanced payments and installments, maturing on April.
Moreover, concerning the following installments, the ARBA extended their due date up to the 10th or the next working day, of the second month following the original installments due date.
Should you require any further information on this matter, please do not hesitate to contact us.
Santiago L. Montezanti