AFIP General Resolution No. 4721/2020 and AGIP Resolution No. 189/2020.
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Tax Department report | AFIP General Resolution No. 4721/2020: Income tax and Personal Assets tax – deadlines extension for individuals and undivided estates | AGIP Resolution No. 189/2020: implementation of the extraordinary tax advance payment
Dear Sir or Madam,
We hereby inform you about the following measures with tax impact:
1. AFIP General Resolution No. 4721/2020: Income tax and Personal Assets tax – deadlines extension for individuals and undivided estates
Through General Resolution No. 4721/2020, the Federal Tax Authority (the “AFIP”) extended the due dates to:
• File and pay the FY 2019 Income tax and Personal Assets tax returns for individuals and undivided estates, as follows:
• File and pay the FY 2019 schedular income tax, as follows:
File the FY 2019 informative returns (income and personal assets) for employees (General Resolution N° 4003-E/2017) and actors (General Resolution N° 2442/2008), up to July 31st, 2020, inclusive.
2. AGIP Resolution No. 189/2020: implementation of the extraordinary tax advance payment.
Regarding Law No. 6.301 (“Economic and Financial Emergency”), the Tax Authority of the City of Buenos Aires issued the Resolution No. 189/AGIP/2020 that implements the “Extraordinary Tax Advance Payment” which consists in a willingly advanced payment of the Turnover Tax, by which the Local Tax Authority shall grant a tax credit equal to the 30% of the amount paid.
Furthermore, the Extraordinary Tax Advance Payment shall be equal to the summation of the tax assessed and declared in the first, second and third Turnover Tax Advanced payments FY 2020, without deduction of payments on account, withholdings and/or reverse withholdings and/or any balance in favor recognized by the Tax Authority of the City of Buenos Aires. The deadline to pay the Extraordinary Tax Advanced Payment is May 29th, 2020.
Both the Extraordinary Tax Advanced Payment and the tax credit could be used to pay the FY 2021 Turnover Tax, according to a specific mechanism established in this Resolution.
Should you require any further information on this matter, please do not hesitate to contact us.
Sincerely,
Santiago L. Montezanti