Sign up for tax alert emails    GTNU homepage    Tax newsroom    Email document    Print document    Download document

February 25, 2019
2019-5270

Argentina modifies the compensatory interest rate and punitive interest rate

On 8 February 2019, Argentina published, in the Official Gazette, General Resolution 50/2019 (GR 50), modifying the compensatory interest rate and punitive interest rate established in the Tax Procedure Law (Law No. 11,683 and its amendments) and the Customs Code (Law No. 22,415 and its amendments).

GR 50/2019

GR 50 establishes that the current monthly 3% compensatory interest rate (i.e., the rate accrued on tax debt that is not under a judicial procedure) and 4% punitive interest rate (i.e., the rate accrued on tax debt that is currently under a judicial procedure) will be in effect until 28 February 2019.

From 1 March 2019 to 31 March 2019 the compensatory interest rate will increase to 4.5% and the punitive interest rate will increase to 5.6%.

Beginning 1 April 2019, the compensatory interest rate and punitive interest rate will be determined quarterly. The compensatory interest rate for each quarter will be the monthly equivalent of 1.2 times the annual nominal rate for 180-day fixed term deposits at Banco de la Nación Argentina on the 20th day of the month before the start of the quarter. The punitive interest rate will be the equivalent of 1.5 times the annual nominal rate.

Both the compensatory interest rate and punitive interest rate will be published on the Argentine tax authorities’ website at the start of each quarter.

For additional information with respect to this Alert, please contact the following:

Pistrelli, Henry Martin & Asociados S.R.L., Buenos Aires
  • Carlos Casanovas | carlos.casanovas@ar.ey.com
  • Gustavo Scravaglieri | gustavo.scravaglieri@ar.ey.com
  • Ariel Becher | ariel.becher@ar.ey.com
  • Darío Corrente | dario.corrente@ar.ey.com
  • Rodrigo Marabi | rodrigo.marabi@ar.ey.com
Ernst & Young, LLP, Latin American Business Center, New York
  • Pablo Wejcman | pablo.wejcman@ey.com
  • Juan Ignacio Pernin | juan.ignacio.pernin@ey.com
  • Ana Mingramm | ana.mingramm@ey.com
  • Enrique Perez Grovas | enrique.perezgrovas@ey.com
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
  • Pablo Baroffio | pablo.baroffio@uk.ey.com
  • Jose Padilla | jpadilla@uk.ey.com
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific
  • Raul Moreno, Tokyo | raul.moreno@jp.ey.com
  • Luis Coronado, Singapore | luis.coronado@sg.ey.com

ATTACHMENT

 
 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 2024, Ernst & Young LLP.

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

Any U.S. tax advice contained herein was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.

 

"EY" refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

 

Privacy  |  Cookies  |  BCR  |  Legal  |  Global Code of Conduct Opt out of all email from EY Global Limited.

 


Cookie Settings

This site uses cookies to provide you with a personalized browsing experience and allows us to understand more about you. More information on the cookies we use can be found here. By clicking 'Yes, I accept' you agree and consent to our use of cookies. More information on what these cookies are and how we use them, including how you can manage them, is outlined in our Privacy Notice. Please note that your decision to decline the use of cookies is limited to this site only, and not in relation to other EY sites or ey.com. Please refer to the privacy notice/policy on these sites for more information.


Yes, I accept         Find out more