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

September 21, 2020
2020-6237

Argentina issues regulations on new tax settlement plan

The Argentine Tax Administration (AFIP) issued General Resolution No. 4816/20, clarifying certain provisions of the new tax debt settlement plan and establishing the procedures for taxpayers to follow to apply for the settlement plan. The resolution was published in the Official Gazette on 16 September 2020.

Argentina enacted the tax settlement plan as part of Law 27,562. The plan allows taxpayers to settle their outstanding debts as of 31 July 2020, including national taxes, social security taxes (certain exceptions apply) and certain customs debts. The Law was published in the Official Gazette on 26 August 2020.

For more information on Law 27,562, see EY Global Tax Alert, Argentine Congress approves bill establishing new tax settlement plan, dated 20 August 2020.

General Resolution

The resolution establishes that taxpayers must apply for the new tax debt settlement plan on or before 31 October 2020. If approved for the plan, taxpayers may enter into an installment payment plan of up to 120 monthly payments.

The first installment payment is due 16 December 2020, while the subsequent monthly installments are due on the 16th of each month and must be paid through direct debit from a bank account.

The resolution also:

  • Establishes the procedure for applying for the plan through the tax authorities’ website
  • Establishes the conditions with which applicants must comply for the repatriation of funds obtained from the sale of financial investments held outside Argentina
  • Clarifies the procedure for paying the entire debt in cash at the moment of entering into the plan or with freely available tax credits, refunds or reimbursements
  • Clarifies under what conditions certain applicants must make a down payment when entering into the plan

The resolution also establishes the conditions under which taxpayers will be considered as small taxpayers or as micro, small or medium-sized enterprises (MiPyMEs). If a taxpayer qualifies as a small taxpayer or MiPyME, it will not be subject to the prohibition on distributing dividends, paying certain fees to foreign related entities and conducting certain transactions with debt bonds as a condition to apply for the plan. They also will not have to repatriate funds held outside Argentina and will be entitled to access to the most beneficial installment plans.

_____________________________________________________________________________________________________________

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

Pistrelli, Henry Martin & Asociados S.R.L., Buenos Aires
Ernst & Young LLP (United States), Latin American Business Center, New York
Ernst & Young Abogados, Latin American Business Center, Madrid
Ernst & Young LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Tokyo

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