José Luis Ceteri
07/17/2020 - 14:38
Clarín publishes every Friday a summary with the main tax issues that were known during the week, changes in the rules, new regulations and the upcoming deadlines and filings, to have all the tax doctrine in one place.
How was the Financial Income Tax
After regulatory comings and goings, due to the legal contradictions that came out in the tax reform carried out by the previous government, the AFIP clarified by publishing on its website the operations that are reached by the Cedular tax, known as "Financial Income" in 2019.
The expiration date , which was already postponed, has now been left for July 27, 28 and 29 . It must be paid to the extent that the investments made have produced a return greater than the annual non-taxable minimum of $ 85,849 , and must be paid for investments in foreign currency or with an adjustment clause, the aliquot of 15% on the excess amount.
What the AFIP page says:
In the Financial Income Tax, for 2019 are taxed:
* Interest or income originated in bank deposits with adjustment clause, term deposits in foreign currency, bonds and other securities.
* Dividends and assimilable profits.
* Transactions for the sale of shares, representative securities and certificates of deposit of shares and other securities, quotas and social participations, digital currencies, titles, bonds and other securities.
* Alienation and transfer of property rights
On the other hand, it is clarified that the interests, yields or rents generated by negotiable obligations, public titles, shares of mutual funds and financial trust contracts are exempt from the tax , provided that these are placed by public offer. In addition, the interest obtained for fixed terms in pesos is exempt .
The results of the sales of shares listed on the stock exchange and the exchange differences obtained by human beings from operations and holdings of foreign currency were never reached by the tax.
Transfers of company shares, from non-listed companies, pay 15% on the result obtained. To determine the result, the current sale price is considered, compared to the historical cost, unless the participation has been acquired from January 1, 2018 onwards.
The distribution of dividends on profits originated from the fiscal years beginning on January 1, 2018, has to pay 7%.
Earnings and Personal Assets payment plan
So far, what's new in terms of facilities for paying Profits and Personal Assets? Little, since the AFIP through General Resolution 4758 slightly modified the miniplan of facilities for the specific payment of those taxes, which was in force, eliminating the condition referring to the degree of tax compliance of the taxpayer.
Until now, those who registered a default had to advance a higher payment on account and could make the plan with fewer amounts.
At the moment, the expected extension did not come out, since these taxes are not included within the moratorium that is being studied in Congress, which only allows tax debts due as of June 30, 2020.
As a color element this year there is the strange circumstance that the first advance, corresponding to the year 2020, will expire before the payment of the 2019 tax, which is included in a payment facilities plan.
The Mini-Plan for Profits and Personal Assets extends its membership until August 31, 2020. It comes with the usual payment conditions but this time the category of the "Risk Profile System" (SIPER), which measures compliance, will not be considered. taxpayer's tax.
These obligations can be regularized in up to 3 installments, with a payment on account of 25%, at the financing rate foreseen for the payment plan.
The facilities plan, which is not a moratorium because it does not forgive interest or penalties , can be presented until August 31, within the option called “My Facilities”, which works on the AFIP website.
Up to three installments , not less than $ 1,000 each, can be requested , which will be debited from the CBU of the account reported by the taxpayer, on the 16th of the following months (September, October and November). If at the time of the attempt to make the debit there are no funds, there will be a new debit order on the 26th of the same month, which will include the interest caused by the delay. The monthly financing interest rate is 2.40%.
Benefits in the City and in Buenos Aires
Despite the low shutters and zero billing, no extension or payment facility plan appears to be able to assist activities that were detained for nearly 120 days of quarantine.
In order to mitigate part of the effects of the crisis, both the City and the Province issued regulations with some reduced tax benefits:
The synthesis of the tax measures that came out in the City is as follows:
- Real Estate / ABL : extension until 07/31/2020.
- Contribution for the Use and Occupation of the Surface of goods in the public domain with street vendor stalls: extension to 08/31/2020.
- Facility Plans corresponding to Environmental Taxes, Sports or Recreation Boats and Taxes for the occupation or use of public roads with tubular support structures for scaffolding, premises for the sale of building in horizontal property and temporary fences: extension to 08/31/2020.
- Facility Plan Decree 606/96 (2nd Expiration) : extension to 07/31/2020.
- Contribution for advertising: extension to 08/14/2020.
- Fiscal Fair (procedural deadlines): Extension to 07/17/2020.
On the other hand, a permanent payment facilities plan was approved, which has been in force since June 1, 2020, and is intended for the taxpayers of the City of Buenos Aires who register debts with the AGIP. It is for all taxes and fines applied, it does not have a maximum amount of debt and it includes administrative and judicial debts. There is no forgiveness of compensatory interests (it is not a moratorium); Depending on the term, interest rates are 1.5%, 2.5% and 3%, and can be paid in up to 36 equal and monthly installments. People can cancel it in up to 6 installments without financing interest. The plan is adhered to from the City website.
Measures in the Province of Buenos Aires
The Collection Agency of the province of Buenos Aires (ARBA) extended, for 60 days, the term to pay discount 3 of the Automotive Tax at a discount. In this way, taxpayers will have until September 15 to make the third payment of the Patent, maintaining the possibility of accessing bonuses that can reach 20% for completing on time.
As for the share 2 of the Urban Real Estate, whose expiration fell on July 31, the term was extended 45 days and it can also be paid at a discount until September 15, both in the built and vacant plant.
Likewise, payment plans were approved and the embargoes were also suspended. Initiatives include bonuses of up to 50% in Gross Revenue; reduction of aliquots in retention and perception regimes; greater speed in the return and compensation of balances in favor of Gross Income; and payment plans with facilities to regularize past due debts as of May 31, aimed at companies, SMEs, businesses and other taxpayers.
In the case of those who are registered to develop economic activity of any heading, and who had declared an income of up to 5% higher than last year between March and May, a special plan was approved to pay off debts in 12 installments without interest or at 18 with a fixed rate. A specific payment program for collection agents was also added, which includes debts for omission in Gross Income. Another benefit for this sector was the extension of the period for the receipt of perceptions, which went from 15 to 30 days.
For those Gross Income taxpayers who billed up to one million pesos in 2019, and also for SMEs and companies that have suffered a drop in their sales, a reduction to the minimum of the retention and perception aliquots in the collection regimes was arranged.
The assistance program also provides for a discount on the Gross Income Tax, which will run until the end of 2020. This benefit, which will be 50% for SMEs and 15% for other taxpayers, is aimed at the sectors most affected by the pandemic, including the non-essential products retail trade, tourism, culture, hairdressing salons, aesthetics and other services.
Finally, to provide relief to those who have balances in favor with ARBA, the amount that allows access to the automatic return procedure, which is managed online and has a quick resolution, was raised to $ 300,000. Likewise, it was established that this tax credit may be used to offset debts of other provincial taxes.
Buenos Aires government projects
The Buenos Aires Legislature approved two bills on Thursday:
* Regulation of activities developed by the delivery applications that operate in the City. It is proposed to incorporate in the Traffic Code the figure of “digital platform operator of supply and demand by third parties of the urban messaging service and / or home delivery of food substances”. It is established that it would be a “human or legal person that operates and / or manages a digital platform through which third parties offer and demand the urban messaging service and / or home delivery of food substances”. It also establishes that the Apps must have the corresponding authorization to be able to operate and must register in the “Single Registry of Urban Messaging Transport and / or Home Delivery of Food Substances”, although the text clarifies that those gastronomic establishments or other commercial premises that do not develop urban courier service or home delivery as their main activity will be exempt from the obligation to register in this registry. It also maintains that delivery drivers must pass mandatory training courses, which will include notions of road safety and regulations related to the services they provide, as appropriate. In turn, to be able to provide the service, they must have an approved helmet and clothing with reflective bands; among other points.
* Exemption in the ABL: it is for the months of June and July, to the non-essential businesses that saw their activity affected. In this way, the initiative reaches real estate agencies, gastronomic venues -restaurants, bars, cafes, pizzerias, food houses, ice cream parlors, fast food, etc.-, hotels, accommodation, pensions, nursing homes, temporary shelters and / or motels, among other shops. However, it excludes the commercial premises of financial institutions and those for payment of services and taxes. In addition, during the same months, the tax on the use of public space for commercial activities on public roads will be condoned, and the extension of the suspension of embargoes will also proceed, which runs until August 31. At the same time that Banco Ciudad will launch a series of loans with a fixed rate of 12% and a six-month grace period.
Loss of tax residence for Personal Assets
The AFIP, through Resolution 4760 , in relation to the Personal Property Tax, ordered to modify the status of tax resident in the country and the loss of it. Now, for the estate tax the residence will be credited in the same way that is required for the Income Tax.
Until now, for property tax, residence was accredited with the declaration of the fiscal domicile and not with that of residence , which may not coincide.
Personal Property since this year applies two types of aliquots, being higher those paid by those who have assets abroad and their tax domicile in the country. In order to avoid modifying tax domiciles and thus pay less for Personal Assets, the AFIP changed the criteria to define the domicile in the last tax. The modification will apply to the sworn statements that will be presented in the next days of Personal Assets , corresponding to the year 2019 , because those who previously processed the withdrawal will now have to prove their effective residence abroad.
The residence in Argentina is lost when it is acquired in another country, fulfilling the migratory questions, or remaining abroad continuously for twelve months, not coming to the country more than 90 days.
With the new resolution, to request resident status the person will have to:
a) Inform, as a sworn statement and prior to the submission of the application, your address abroad through the service "Registry System" menu "Tax Registry", option "Address - Residence abroad" on the site AFIP website.
b) At the time of requesting the withdrawal, select reason "242 - Withdrawal for the acquisition of permanent residence in immigration matters in another jurisdiction" or "243 - Withdrawal for loss of residence due to continued stay abroad for a period of 12 months" , and attach a file in “.pdf” format containing a copy of the supporting documentation.
c) When the request for withdrawal refers to the tax on Personal Assets, the Unique Tax Identification Code of the person designated as the substitute person in charge, who will pay the taxes here representing him, must be informed.
* José Luis Ceteri is a specialist in tax matters