AFIP will charge half of the interest for late payment since June: this is how the punitive penalties remain

AFIP will charge half of the interest for late payment since June: this is how the punitive penalties remain

Let us remember that, after April’s inflation data, which reached double digits, BCRA once again lowered the reference rate by another 10 percentage points, which remained at 40% annually, that is equivalent to an effective rate of 49.15% (TEA). It is in this context that Economía decides to take this measure.

“The rate of Compensatory interest for non-payment of tax, pension and customs obligations would decrease from 12.7% to 6.41% monthly for the June/July 2024 two-month period,” he highlighted. the CEO of SDC Asesores Tributarios, Sebastián a Domínguez.

The tax advisor indicated in this regard that “this drastic 49.54% decrease “It is due to the fact that Banco Nación Argentina (BNA) has lowered the effective monthly active rate of overdrafts in current accounts not previously requested, used as a basis to determine the compensatory interest rate.”

“From May 17, 2024, the BNA has established this rate at 4.931% monthly, and it is expected that it will not change for Monday, May 20, date that must be considered in accordance with Resolution (MEC) 3/2024 to determine the rate for the next two months,” explained Domínguez.

How are the punitive rates?

In this way, the tax advisor explained that “The punitive interest rate would drop from 13.93% to 7.39% monthly, that is, 46.95%.”

“Despite this significant decrease, the compensatory interest rate is still higher than what a taxpayer can obtain through a financial investment,” he explained.

In this way, he maintained that he seeks to prevent “Some taxpayers finance themselves through payment plans granted by the AFIP or even choose not to pay and make financial investments. with greater performance, affecting public accounts.”

“In addition, it is a pending issue for the Ministry of Economy to set the same interest rate for refunds and repetition actions, among others, filed by taxpayers,” he indicated.

The CEO of SDC Asesores Tributarios considered that “It is not fair that the AFIP charges a fee when the taxpayer is late in paying their obligations and does not pay the same percentage when they are late.” (in many cases without reasons) in carrying out the returns”.

Companies waiting for the moratorium

The delays in the Senate to address the package of laws sent by the Executive Branch, which includes a tax moratorium, is complicating the situation for small and medium-sized businesses (SMEs) and self-employed professionals.

It is due to the sharp drop in turnover which implies that companies They cannot have “cash” when paying their obligations, which forces them to take short payment plans.

In the case of micro, small and medium-sized businesses, small taxpayers and non-profit entities, there are payment plans with reductions in the compensatory interest rate of up to 40% and 50%. In these cases, it could happen that the financial return on investments is similar to or slightly higher than the compensatory interest rate.

Most are waiting for the release new plan with debt forgiveness and pardons to get in order.

Source: Ambito

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