Through the General Resolution 5440/2023 of the Federal Public Revenue Administration (AFIP), published this Wednesday in the Official Gazette, the validity of the tax benefits established last August for companies that participate in the program was modified Fair Prices.
That decree established a series of benefits for subjects who subscribe price agreements for the local market with the Ministry of Commerce. Now, the AFIP decided to extend these benefitsamong which are the suspension of payment of charges on the purchase of banknotes and foreign currency for certain import operationsthe reduction to ZERO PERCENT (0%) of the export duty rate for certain merchandise and the extension of expiration dates for the payment of tax advances and social security obligations.
The previous decree was issued August 25, 2023 and was originally valid until October 31, 2023. However, as reported AmbitOn October 25, the Government issued another decree that extended the validity of the program until December 31, 2023.
The general resolution that accompanies the decree regulates the benefits established therein. The general resolution was modified on November 1, 2023 to extend the validity of the benefits until December 31, 2023.
Specifically, the benefits are the following:
- Suspension of the payment of charges on the purchase of banknotes and currencies in foreign currency for certain import operations.
- Reduction to ZERO PERCENT (0%) of the export duty rate for certain merchandise.
- Extension of deadlines for the payment of tax advances and social security obligations.
The General Resolution regulates the aforementioned benefits and extends their validity until December 31, 2023, inclusive.
Detail of benefits
- Suspension of the payment of charges on the purchase of banknotes and currencies in foreign currency for certain import operations.
This benefit consists of the suspension of payment of the following charges:
- Tax on debits and credits in bank checking accounts and other operations.
- Check tax.
- Stamp tax.
The benefit applies to import operations of merchandise included in the tariff positions of the Common Nomenclature of Mercosur (NCM) established by the Ministry of Economy.
- Reduction to ZERO PERCENT (0%) of the export duty rate for certain merchandise.
This benefit consists of the reduction to ZERO PERCENT (0%) of the export duty rate for goods included in the tariff positions of the Mercosur Common Nomenclature (NCM) established by the Ministry of Economy.
- Extension of deadlines for the payment of tax advances and social security obligations.
This benefit consists of the extension of the deadlines for the payment of tax advances and social security obligations established by the AFIP.
The extension applies to taxpayers who have characterization 593 and/or 594 in the “Registration System” of the AFIP.
Impact of benefits
The established benefits are intended to mitigate the impact of inflation in the prices of mass consumption goods and services. In particular, the suspension of payment of charges on the purchase of banknotes and currencies in foreign currency for certain import operations may contribute to reduce companies’ production costs, which could translate into lower prices for consumers.
The reduction to ZERO PERCENT (0%) of the export duty rate for certain merchandise can also contribute to reducing the production costs of companies, andbecause these merchandise may be exported without paying certain duties.
The extension of deadlines for the payment of tax advances and social security obligations can help companies relieve their financial situation, since it will allow them more time to make payments.
Source: Ambito
