Amidst Rumours Of A New Extensive Tax Amnesty, The Tax Authorities Increase The System Of Tax Payment Facilities

Author:Canosa Abogados
Profession:Canosa Abogados

In a meeting of finance executives last week, Argentine Finance Minister, Alfonso Prat Gay confirmed that there will be a tax amnesty and a voluntary disclosure program before the OECD Common Reporting Standard becomes fully operational. In this context, on May 2, 2016, the Tax Authorities ("Tax Authorities") enacted General Resolution No. 3870 regarding a "system of tax payment facilities" by means of which the Tax Authorities increased the limit number of plans for tax payment facilities that tax payers can file for. This new limit aims at regularizing the payment of tax and social security debts that taxpayers with an annual income of less than ARS50 million, i.e. small and medium-sized enterprises ("SMEs"), owe to the Tax Authorities. In both cases - tax and social security debts- , affidavits must be filed with AFIP on a monthly basis.

In addition, the Tax Authorities is working on the development of a system of scoring, by means of which the tax authorities will analyse in each case whether that person or company...

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