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Monday, January 30, 2023

How much is lost with the delay in the return of AFIP?

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“The above is a simple example of how, although it is true that the taxes charged at the time of purchase were returned, this value over time ended up being liquefied due to the inflationary effect in which we are experiencing,” explained Damián Di Pace, director of Focus Market.

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“The latest measures to incorporate more taxes on the tourist dollar show that the Central Bank of the Argentine Republic does not have dollars unless the State collects more for their purchase,” Di Pace added, questioning that “instead of allowing Argentines to seek dollars in the market and operate with them, sell them but with more taxes”.

Then, it studies the case of a monotributista who buys tickets abroad to Sydney (Australia) in January 2023 at a value of $1,759,458 who will be able to apply for reimbursement at AFIP in January 2024, one year later. “Possibly they will just reinstate it, hopefully, in October 2024,” the consultant clarified. In this purchase, the return will be $615,810 in nominal terms -at January 2023 values-, but at October 2024 values, adjusted for inflation, this value should be $1,525,054, the report detailed.

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“The returns of AFIP for the perceptions that it makes imply in reality that many natural or legal persons cannot recover more of what is withheld,” warned Di Pace and pointed out that “the exchange operation goes from being a perception to a full-fledged tax.” .

After analyzing the rhythm of the different dollar prices, the director of Focus Market stated that “Argentines who carry out exchange operations to pay for streaming, goods and services abroad have not yet taken into account the seriousness of the situation to access their future consumption”.

In this sense, he clarified that “As the Government, through the crawling peg, accelerates the pace of the devaluation of the official exchange rate, by adding fixed taxes, we project a tourist exchange rate of $657 (today $344) for 2023.”

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Source: Ambito

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