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Thursday, March 23, 2023

ARBA eliminates procedures and automates the compensation of balances in favor

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The Collection Agency of the province of Buenos Aires (ARBA) implemented an automatic compensation mechanism, with no amount limit, for all balances in favor from Real Estate, Automotive and Sports Boat taxes.

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Normative Resolution No. 12/2023, which was published this Monday in the Buenos Aires Official Gazette, provides that the balances in favor that come from Real Estate taxes, in their Basic and Complementary components, and Automotive –

including sports or recreational boats-, will be compensated or imputed by the Collection Agency without carrying out any procedure.

ARBA Executive Director, Cristian Girardexplained that “favored taxpayers will receive compensation of favorable balances automatically, without the need to carry out any procedure. The benefit will include the entire tax credit, whatever its amount, speeding up refund times.”

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“This innovation allows us to continue deepening the process of tax simplification, with fast and transparent refund systems, which allow us to reduce the tax burden on all sectors of production and work, especially low- and medium-income Buenos Aires residents, monotributistas, businesses and SMEs”the official assured.

Before this rule, only those refunds that did not exceed, by quota, $10,000 were automatic: by eliminating this limit, the automated compensation procedure is extended to all taxpayers with favorable balances generated in taxes on real estate, vehicles or boats , highlighted ARBA, in a statement.

This measure is added to others that, in the same sense, the agency applied: Simplified Gross Income, digitalization of almost 90% of the procedures, benefits and discounts for those who adhere to digital receipts and new means of payment.

Source: Ambito

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