JULY 17, 2020

AFIP General Resolutions No. 4760/2020 and No. 4761/2020.

CIRCULARS

CIRCULAR

Tax Department Report | AFIP General Resolution No. 4760/2020: Tax on personal assets − Cancellation of the tax registration due to the loss of the tax residence | AFIP General Resolution No. 4761/2020: VAT – Public transport services – Reimbursement of VAT technical balances

Dear Sir or Madam,

We hereby inform you about the following measures with tax impact.

AFIP General Resolution No. 4760/2020

Following the amendments introduced by Law No. 27,541, which established new criteria for linking taxpayers with the Personal Assets Tax by replacing the “domicile” criteria by the “residence” criteria (contained in the Argentine Income Tax Law), the Federal Tax Authority (the “AFIP”) issued the General Resolution No. 4760/2020 stating the conditions to request the cancellation of the registration as a taxpayer as from the fiscal year 2019.

On the other hand, the AFIP stated that individuals qualified as taxpayers for the Personal Asset Tax FY 2018 who requested the cancellation of their tax registration before July 17th, 2020 due to the “lack of domicile in Argentina”, shall evidence the absence of their Argentine residence status as of December 31st, 2019, until the due dates to file the FY 2019 tax return.

General Resolution No. 4761/2020

Through General Resolution No. 4761/2020, the AFIP regulated the reimbursement of VAT technical balances in favor for taxpayers conducting public transport activities which price is reduced through subsidies, price offsetting or financial aid funds granted by the Argentine government (according to the regime set forth in the second unnumbered section following section 24 of VAT Law).

Should you require any further information on this matter, please do not hesitate to contact us.

Sincerely,

Santiago L. Montezanti