Tax relief – Moratorium Law 27653 (B.O 11.11.2021)

Industrial estimates and estimates:

Attentive to law 27,653 FISCAL RELIEF TO STRENGTHEN THE ECONOMIC AND SOCIAL EXIT TO THE PANDEMIC GENERATED BY COVID-19 recently published in the Official Gazette, we share with you the main points about it, clarifying that it is not yet regulated .

• In the case of micro and small businesses, individuals, undivided estates and monotributistas, tax, customs and social security debts, liquid and payable, are forgiven as of 08/31/2021 as long as they are less than pesos one hundred thousand ($100,000). This forgiveness covers the capital owed, compensatory and/or punitive interest and/or fines only.

• The reopening of the moratorium provided by Law 27541 is established, making it possible to include obligations due on 8/31/2021 as well as the possibility ofrehabilitate those plans carried out under the aforementioned regime that have become obsolete, and also provides benefits applicable to taxpayers who are up to date with their tax obligations.

• Total remission of compensatory and/or punitive interest is established in the amount that, due to the total interest, exceeds the percentage indicated below:

1. Micro and Small Businesses, non-profit entities and individuals and undivided estates considered small taxpayers: ten percent (10%) of the capital owed.  Whose financing can be made in up to 120 installments with a fixed interest rate of up to 1.5% monthly, during the first 12 installments, then BADLAR rate in national currency from private banks.
2. For Medium-sized companies, sections 1 and 2: thirty-five (35%) of the capital owed. With a financingtion of up to 60 installments with a fixed interest rate, up to 2% monthly, during the first 6 installments, then BADLAR rate in national currency from private banks.
3. For the rest of the taxpayers: seventy-five percent (75%) of the capital owed; financed in up to 36 installments with a fixed interest rate, up to 3% monthly, during the first 6 installments, then BADLAR rate in national currency from private banks.

• Expiration of payment facility plans: for non-payment of up to six (6) installments (in the case of micro and small businesses, non-profit entities and individuals and Undivided estates); and for non-payment of up to three (3) installments in the cases of the remaining taxpayers.

• Promotion of compliance with obligations resulting from the inspection process, those debts detected in the process may be included in the moratoriumAFIP inspection system, with deadlines that differ depending on the type of taxpayer: A term of no less than forty-eight (48) installments; term not exceeding one hundred and twenty (120) installments for Micro and small businesses, non-profit entities and individuals and suc. Undivided.; ninety-six (96) quotas for medium-sized companies; and seventy-two (72) installments for other taxpayers.

Benefits

As for compliant taxpayers, depending on their tax status, they will enjoy the following benefits:

• Subjects adhered to the Simplified Regime for Small Taxpayers: they are exempt from the tax component for 6 to 2 months depending on their category, and the exemption must not exceed $25,000.

• Subjects registered with the income tax: they may deduct their net profits for a tax periodl, an additional amount equivalent to 50% of the amount of the non-taxable minimum. This benefit excludes employees, retirees and pensioners.

• Micro and small companies registered in profits They may choose to practice the respective amortizations starting from the fiscal period of authorization of the asset, in accordance with the general rules of the Income Tax Law until 12/31/2022 in assets depreciable furniture and infrastructure works.

The category of compliant taxpayer is one who, at the time of entry into force of this rule 11/11/2021, does not register non-compliance in the presentation of sworn declarations, nor, if applicable, in the payment of the tax obligations from fiscal periods beginning on or after 01/01/2018.

In the coming weeks we will be carrying outcarried out an activity in conjunction with the SMS tax study to clarify doubts regarding this topic. We remind you that ADIMRA provides advice on tax matters. If you are associated with the entity, you can contact us through the VUA: Fiscal and Tax Benefits - ADIMRA window