how to make affidavits and what happens if they are not filed

The Federal Administration of Public Revenues (AFIP) notified last month to 5,780 taxpayers to include the purchase of foreign currency in their presentation of affidavits with him payment of income and personal property taxes.

The persons notified belong to a select group that collectively acquired more than US$1.1 billion through public securities during the fiscal period 2022 and that they must inform in the corresponding tax declarations.

Why the MEP dollar is controlled

In this sense, the tax accountant Mirian RoldánCPCECABA T250 F10, explained in dialogue with Ambit that “the CNV through the RG959/2023establishes new limitations for the purpose of restricting the use of certain financial tools that are considered to be pursued as an end to circumvent measures established by the Executive Power, in what refers to the access to the foreign exchange market“.

“In this sense, the impossibility of accessing, under any circumstances, sales operations of negotiable securities with settlement in a foreign market, regardless of its local or foreign jurisdiction, is established for subjects who maintain or take guarantees or passes,” Roldan added.

At the same time, he highlighted: “Settlement and negotiation agents must request and keep in the files of their clients, an Affidavit in which the client expressly states that it has no positions taken in bonds or passeseither as owner and/or co-owner, in any agent and that did not receive financing either”.

“In reality, what is being tried to limit is what is considered an elusive maneuver of the exchange rate restriction measures,” he said.

For his part, Maria Paula Veliztax manager Argentine Expansion explained to this outlet that the focus “It’s in what you did with the dollars you bought, if you used them to pay for something, you won’t have problems, because there will be higher expenses to prove it”.

However, “if it was decided to keep them, then they must appear in the affidavits of Personal propertyas long as it was in their possession as of 12/31,” he added.

“An important piece of information: if the foreign currency is in a savings bank or in a fixed term, they will be exempt from paying the tax,” said Véliz.

The presentation of the affidavits of human persons due between the 12th and 14th of this month and the payment between the 13th and 25thdepending on the number of CUIT.

What happens if the Affidavit is not complied with

As accountant Roldan explained, affidavits must contain “the expression of not having bonds or passes in any entity”. At this point, he stressed that in case of non-compliance with the norm, “would incur in falsifying an affidavit with the legal consequences that derive from it”.

For his part, Veliz stressed that if the purchase of MEP is not included in the presentations, “The national treasury could initiate a requirement to investigate the destination of the currencies and determine if it is appropriate to rectify the presentations”.

AFIP put the magnifying glass on operations over US $ 50,000

The AFIP Yoidentified 5,780 taxpayers that, during the 2022 fiscal period, arranged these operations for individual amounts that exceeded US$50,000.

The total foreign currency acquired through this route amounts to u$s1,160 millionwhat represents $205,310 million at the official exchange rate closing of last year and should be reflected in the corresponding affidavits.

The AFIP sent electronic notifications to the subjects involved, in order for them to correctly consider both the origin of the funds used to carry out said operationsas well as its complete declaration and correct valuation, facing the expiration of June of the presentation of the determinative affidavits and the payment of taxes on Income and on Personal Assets.