January 4, 2023
Argentina implements new mandatory disclosure regime for international transactions
On 27 December 2022, the Argentine Tax Authority (AFIP) published General Resolution No. 5306/2022 (the Resolution) in the Official Gazette. The Resolution establishes a new informative regime for certain international transactions (RICOI or “Régimen de Información Complementario de Operaciones Internacionales”, in Spanish) to be complied with by Argentine legal entities and replaces the suspended mandatory reporting regime for domestic and international arrangements enacted by General Resolution No. 4838/2020.
On 20 October 2020, AFIP issued General Resolution No. 4838/2020 establishing a mandatory reporting regime for domestic and international arrangements (planificaciones fiscales, in Spanish) implemented since 1 January 2019 or implemented before that date if the effects of the arrangements subsist as of 20 October 2020. Under Resolution 4838, taxpayers that participated in any domestic or international tax planning arrangements or tax advisors that participated (directly or through related parties) in implementing tax planning arrangements had to comply with this mandatory reporting regime.
On 1 September 2022, AFIP suspended the mandatory reporting regime implemented by Resolution 4838 for 60 calendar days beginning 1 September 2022. This suspension was later extended for an additional 60 calendar days beginning on 31 October 2022 until the regime was finally abrogated by Resolution 5306.1
The RICOI must be complied with by companies, non-profit entities, trusts, mutual funds, and permanent establishments incorporated or located in Argentina, for the following transactions:
The Resolution states that entities categorized as Micro, Small or Medium sized companies -Stage I and II- on AFIP’s website “Sistema Registral” will be exempt from complying with the RICOI.
Reportable international transactions
The international transactions to be reported are those involving one or more of the following situations:
Characteristics of the information required and filing procedure
For each reportable transaction, the local entity must report the following information:
The information must be reported electronically on AFIP´s website , through the webservice “Complementary Information Regime for International Transactions” (Régimen de Información Complementaria de Operaciones Internacionales, in Spanish).
Entry into force and reporting due dates
The international transactions to be reported are those carried out during the fiscal years of the reporting entity that close on or after 1 August 2022.
The taxpayers must report such transactions up to the due date for filing the Income Tax return for the fiscal year to which they correspond.
Taxpayers that do not comply with this regime may be subject to fines as set out in the Tax Procedural Law.
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 LLP (United Kingdom), Latin American Business Center, London
Ernst & Young Tax Co., Latin American Business Center, Japan & Asia Pacific