Tax Department Report | New measures with tax impact.
In attention to the current publicly known epidemiological situation, we hereby inform you about the main measures adopted with tax impact:
1. Tax on personal assets. Term-extension for the repatriation of funds. Clarifications.
Through Decree No. 330/2020, the term for the repatriation of funds under Law No. 27541 and its Regulatory Decree No. 99/2019 was extended up to April 30th, 2020 -this term was supposed to expire on March 31st, 2020-.
Furthermore, the Executive Branch gave some clarifications regarding the allocation of yields obtained up to December 31st derived from the investments allowed under the repatriation.
2. National Tax Court recess
Through the Resolution No. 17/2020, the National Tax Court (the “TFN”) extended the extraordinary recess established by the Minute dated on March 16th, 2020, up to the date that DNU No. 297/2020 remains in force (through Decree 325/2020, the Executive Branch extended the effects of such DNU up to April 12th, 2020). During such period, procedural terms are suspended.
3. Extension of the due date for the filing of transfer pricing returns.
Through General Resolution No. 4689/2020, the Federal Tax Authority extended the due date to file the transfer pricing returns for fiscal years closed between December 31st, 2018 and September 30th, 2019, which could be exceptionally filed between May 18th, 2020 and May 22nd, 2020.
4. Installment Payment Plan for Tax, Social Security and Customs Obligations of Micro, Small and Medium Size Enterprises. Modification of implementing regulation.
Through General Resolution No 4690/2020, the Federal Tax Authority modified the General Resolution No. 4667/2020 for the application of the “Installment Payment Plan for Tax, Social Security and Customs Obligations of Micro, Small and Medium Size Enterprises and non-profit civil entities” created by Law No. 27451, according with the extension to June 30th,2020 of the due date to subscribe to the above mentioned plan, as stated by Decree No. 316/2020.
5. Province of Buenos Aires. Extension of deadlines related to Turnover Tax.
Through the Resolution No. 16/2020, the Tax Authority of the Province of Buenos Aires (the “ARBA”) extended the deadlines to: (i) file the FY 2019 annual tax return, setting its due date between June 1st, 2020 and June 12th, 2020; (ii) pay the third FY 2020 advanced payment, setting its due date between May 4th, 2020 and May 15th, 2020.
Bear in mind that this measure is not applicable to taxpayers under the Multilateral Agreement.
6. City of Buenos Aires. Tax proceeding terms.
The Tax Authority of the City of Buenos Aires (the “AGIP”) issued the Resolution No. 151/2020, by the means of which it stated that days running from April 1st, 2020 and April 13th, 2020 shall not be computed in tax proceedings.
However, such measure is not applicable for terms related to criminal proceedings.
Should you require any further information on this matter, please do not hesitate to contact us.