The Customs Collection and Control Agency (former AFIP) established a procedure for calculating Profit advances for the 2024 fiscal period and changed the expiration date.
The Customs Collection and Control Agency (ARCA) established a special procedure for the calculation of advance payments of Income Tax for the fiscal period 2024, corresponding to the human persons and undivided successionsbased on the provisions of Law 27,743.
Through General Resolution 5600/24, which was published in the Official Gazette, the organization also established a new expiration extension and updated the parameters to monitor the request for reductions. In this way the first advance of the 2024 Income Tax will expire on November 25 (for all taxpayers). Previously, the expirations had already been moved to the 13th, 14th and 15th of this month (according to CUIT).
According to the organization headed by Florence Mirashiofficials of the Executive Branch who presented the Tax Law highlighted that various values established in that law contained an adjustment to compensate for price variations in the first part of the year.
Based on this, it was necessary to establish an exceptional procedure for determining the advances corresponding to the 2024 fiscal period that contemplates the adjustments made by the aforementioned law.
Besides, rose from $50 million to $150 millionone of the parameters considered so that taxpayers and responsible parties who exercise the option of reducing advance payments require a special procedure with additional controls. The rest of the tax advances will expire in December, February, March and April.
Earnings: what are advances
The advances are payments on account of a certain tax to which a taxpayer is obliged. These payments are deducted from the determined amount of the main obligation at the time of submitting the corresponding affidavit.
Profits: who must pay the advances
All the human persons and undivided successions registered in the tax 5 advances must be determined and enter each of them.
Earnings: how advances are entered
The advance payment must be made through the AFIP Electronic Wallet or through Electronic Payment Flyer (VEP)accessing the service with a tax code “Presentation of DDJJ and Payments” and using the following codes for consolidation:
- Tax: 011 – Income of Individuals
- Concept: 191 – Advances
- Subconcept: 191 – Advances
Source: Ambito
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