The Government thus offers taxpayers and responsible persons an opportunity to regularize their tax, customs and social security obligations and take advantage of a variety of benefits. It also created the Special Regime for the Regularization of Assets Abroad.
It also authorizes the AFIP to issue regulations to implement the regime.
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Through Law 27743 Published this Monday in the Official Gazette, the Government created the Special Regime for the Regularization of Tax, Customs and Social Security Obligations. It is part of the fiscal package in which the Government launches an opportunity for taxpayers and responsible persons to regularize their fiscal, customs and social security obligations and take advantage of a variety of benefits. It also creates the long-awaited money laundering abroad.
According to what was published in the official text, it is a regime for the regularization of Tax, customs and social security debtsTaxpayers who are in arrears with these obligations can join the regime to obtain certain benefits, such as forgiveness of interest and fines, and payment plans.
The law also creates an Asset Regularization Regime (a whitewash) and the deadline to adhere to this regime. Asset Regularization Regime will be extended until April 30, 2025“The national Executive Branch may extend this period until July 31, 2025, inclusive,” it added.
Details of the Law
- Who can join?: taxpayers and jointly liable parties who have tax, customs or social security debts due by March 31, 2024.
- Term: The deadline for joining the regime is 150 days from the date of publication of the regulations.
Benefits
- Waiver of interest and fines: The amount of interest and fines forgiven depends on the date of membership and the payment method chosen.
- Payment plans:Taxpayers can choose to pay their debts in installments of up to 84 months.
- Condom of fines: All fines for formal violations committed before March 31, 2024 are waived.
- Waiver of interest on certain taxes: Interest on certain taxes paid before March 31, 2024 is waived.
- Reduction of professional fees: Tax advisors’ fees are reduced by 50% for debts that are under discussion.
- No reinstatement of tax benefits: Taxpayers who join the regime will not be able to restore tax benefits they have lost.
The text is also clear in pointing out that taxpayers who adhere the regime will waive their right to claim refunds of taxes, customs duties or social security contributions that have been regularized.
On the Special Regime for the Regularization of Assets
The law establishes a regime for the regularization of assets abroadTaxpayers who have assets that they have not declared to the tax authorities can join the regime to regularize these assets and pay a special tax.
Key points of money laundering
- Who can join?: resident and non-resident taxpayers who have assets abroad.
- Term: The deadline for joining the regime is April 30, 2025. The deadline may be extended until July 31, 2025.
Procedure for joining: taxpayers must first declare their adhesion to the regime. Then, they must file a special affidavit and pay a special tax on the regularized assets. This tax is calculated at a rate of 15% on the value of the regularized assets.Taxpayers may choose to pay the tax in installments of up to 5 years, as indicated by law.
As published in the Official Gazette, the law also includes anti-avoidance provisions to prevent taxpayers from abusing the regime. It also authorizes the AFIP to issue regulations to implement the regime.
Finally, it indicates that the law enters into force on the day after its publication in the Official Gazette. I hope this summary is useful. Please let me know if you have any other questions.
Source: Ambito
