The benefit announced a week ago prohibits companies from accessing financial dollars, which are the method that some SMEs use to pay for imports due to delays in the official market.
The shortage of dollars generates a “short blanket syndrome” for the government. When you implement a tax benefit in favor of companies or individuals, at the same time you have to be careful that the improvement does not end up going towards some variant of the dollar. Such is the case of the recent payment plan for tax debts Announced by Sergio Massa.
Several tax experts warned that, although SMEs are given a good opportunity to refinance debts before the Federal Administration of Public Revenues (AFIP) at negative interest rates, an insurmountable wall is presented: those who enter will not be able to buy financial dollars.
There are opposing movements: or the economic authorities favor collecting more or prevent the gap from widening between the official dollar and the MEP or Cash with Liquidation. What is relevant in this case is that A large part of the small and medium-sized companies that could enter the plan say they are using the financial dollars to pay their foreign suppliers, given the problems they have to access the A3500 dollar.
As reported by the government, the quotas of the plans are: for small taxpayers, non-profit entities and micro and small companies: up to 84 for general or customs debt; 36 for social security contributions and 12 for withholdings and tax receipts. For medians 1, up to 48 installments, 24 and 6, and medians section 2, up to 36 installments, 18 and 3, respectively. The initiative contemplates a maximum interest rate of 5.91% per month, lower than inflation, and there is a term to enter until September 29.
Gabriel Hermida, partner of the AUREN study, opined that “the payment plan is not going to be very successful because it has two conditions.” “It does not allow current plans to be reformulated, that is, it does not give an improvement to taxpayers who comply and the other problem is that the one who accesses cannot acquire MEP dollars or Cash with Liquidation (CCL),” he explained.
Hermida said that under the current conditions most of companies are paying for imports through financial dollars because they do not have access to the officialTherefore, it considers that many of the companies will not enter.
In this regard, Javier Fuentes, Tax manager of PGK Consultores, pointed out that “this plan of payment facilities restricts the possibility of acquiring securities in pesos for their subsequent sale in foreign currency through custody transfer abroad (CCL), while the plan is in force, and having restricted access to the MULC to make payments abroad, the situation for these companies will be more delicate”.
Fuentes maintains that “the positive is linked to the possibility of being up to date with tax, customs and social security obligations in comfortable installments, although at a high financing rate.” “In addition, for those who are tax withholding and/or collection agents, it allows them to regularize their debts for these obligations,” said PKG’s Tax Director.
Source: Ambito
