The provincial collection body raised the minimum amounts that determine the operations that will be subject to Gross Income withholdings. Find out.
The Collection Agency of the province of Buenos Aires (ARBA) raised the minimum amounts that determine which operations will remain subject to withholdings and perceptions in the regimes of Tax on Gross Receiptswhich will come into force from July 1.
This boundary update provides that the minimum amount for agents to make withholdings will be $19,000as dictated by the Normative Resolution 18/23 of the organism. Currently, it is $2,000. The new limit also shall be deemed in the case of insurance entities and construction, civil, naval, and aeronautical companies, which act as withholding agents of the Tax on Gross Income.
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Increase in minimum amounts: what they said from ARBA
Director of ARBA, Cristian Girard, declared that “the limits from which withholdings and perceptions are made were far behind.” The official stressed that, in addition, “these changes will imply less withholdings and perceptions of Gross Incomehaving a positive impact on the operations of local businesses and small taxpayers”.
The update of limits establishes that the minimum amount for agents to make withholdings it will be $19,000.
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Increase in ARBA minimum amounts: when and how will it be applied
The updating of limits will take effect from the 1st of July so that agents make withholdings within the regimes of the tax on Gross income. The amounts will be the following:
- The agents will practice withholdings from $19,000. It will also be considered in the case of insurance entities and construction, civil, naval, and aeronautical companies, which act as Gross Income withholding agents.
- Regarding the perceptionsthe minimum amount will go from the current $200 to $3500. Direct sales marketing operations will be excluded.
Source: Ambito
