Measures with tax impact | AFIP General resolution No. 4722/2020: Tax recess and others.
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Tax Department report | Measures with tax impact | AFIP General resolution No. 4722/2020: Tax recess and others
Dear Sir or Madam,
We hereby inform you about the following measures with tax impact:
1. AFIP General Resolution No. 4722/2020 | Tax Recess. Through this resolution, the Federal Tax Authority (AFIP) stated a new extraordinary tax recess from May 25th, 2020 to June 7th, 2020. During such a period, procedural terms governing national administrative proceedings related to tax, social security, and customs matters are suspended.
Nevertheless, deadlines for the filing of tax returns and payment of taxes are not modified nor extended and original schedules remain in force.
Furthermore, the extraordinary tax recess would not trigger effects over tax audits based on the information provided by the Organisation for Economic Co-operation and Development (OECD).
2. AFIP General Resolution No. 4723/2020 | Micro, Small and Medium Size Enterprises Electronic Credit Invoice Regime – Update of “Big size enterprises” database. Through this Resolution, the AFIP exceptionally extended up to July 10th, 2020, the term to inform the mandatory inclusion of big size enterprises, which are mentioned in the 7th article of Law No. 27.440, in the Micro, Small and Medium Size Enterprises (MiPyMes) Electronic Credit Invoice Regime.
3. AFIP General Resolution N°4724/2020 | Extension of the suspension of the exclusion and automatic cancellation under the Simplified Tax Regime for Small Taxpayers (Monotributo). Through this resolution, the AFIP extended up to June 1st, 2020, the suspension stated by General Resolution No. 4687 referred to the Monotributo’s exclusion procedure. Moreover, and as temporarily measure, the AFIP stated that the periods of March, April and May 2020, shall not be considered for the term calculation that leads to the automatic cancellation of the Monotributo.
4. AFIP General Resolution No. 4725/2020 | Income tax- Extension of deadlines related to employees and others FY 2019 income tax preparation. Through this resolution, the AFIP extended up to July 3rd, 2020, the due date for employers who act as withholding agents under General Resolution N° 4003-E/2017, to file the FY 2019 annual income tax settlement regarding their employees. Moreover, employers shall withhold or refund to employees the income tax differences that may result, at the moment of the first payment following the settlement or, if it is not enough, the next payments, until August 10th, 2020.
Furthermore, employers shall inform and pay the withheld tax until the due dates set forth for the filing and payment of the SICORE (withholding control system) – a first fortnight of July 2020, considering July 3rd, 2020 as the withholding date.
On the other hand, the final or informative settlements related to a termination of an employment relationship or the changing of the withholding agent, which were supposed to be filed in January, February, March, April, and May 2020, can be filed until June 30th, 2020.
Finally, the AFIP approved a new Income tax Form for the income tax settlements under General Resolution No. 4003-E/2017.
5. AGIP Resolution No. 195/AGIP/2020 | Tax proceeding terms. Through this Resolution, the Tax Authority of the City of Buenos Aires stated that days running from May 26th, 2020 to June 8th, 2020 shall not be computed in tax proceedings.
However, such a measure is not applicable to terms related to criminal proceedings.
Should you require any further information on this matter, please do not hesitate to contact us.
Sincerely,
Santiago L. Montezanti