This is a modification to the law that was presented to Congress, which stipulates the updating of tax losses due to retail inflation. Losses from previous years that have not yet been presented may be updated.
The national government is going to reduce the tax burden on companies from January 1, 2025, If Congress approves the modification of the Income Tax which he sent last Friday. This is the update of tax losses by the Consumer Price Index (CPI).
The modification establishes that since On the first day of this year, companies’ tax losses will be able to be updated for retail inflation, something that at the moment could only be done through wholesale CPI, the effect of which is that when the annual tax settlement is made the determined tax is higher.
Along with this, the project establishes a new “mini-moratorium” for companies that submitted a sworn declaration of profits adjusted for inflation in 2021 (which at that time could not be done) so that they can rectify their sworn declaration in favor of ARCA and pay in 36 quotas.
It must be taken into account that tax losses may not coincide with accounting losses since the former can be generated by adjustments to the accounting balance carried out in accordance with the provisions of the legislation governing Income Tax.
In this way, a company thatAt the end of your fiscal year this year, you will be able to compute your tax losses due to the year’s inflation and pay less.
The teaributarist Mario Volman, teacher of the University of Buenos Airesexplained to Scope on the scope of the Executive Branch’s proposal:.
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“The losses that are verified from sworn statements since January 1, 2025 are updated by IPC”
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“If the taxpayer had losses from 2023 and 2024 and has an affidavit with profits as of January 1, 2025, for closings perfected as of that date, updating by CPI is also allowed, from the closing date of that fiscal year. until the closing date of the fiscal year 2025.”
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“If the taxpayer had a loss from 2021, which is a non-prescribed fiscal period, and calculated it updated for inflation in 2023, that taxpayer who acted contrary to what the law establishes in article 93, has the possibility of rectifying in favor from the treasury the sworn declaration and pay the tax in 36 installments without interest and without fines from the criminal tax law.”
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“If the taxpayer had a loss from 2021 and computed it in nominal currency in compliance with the law in 2023, he is not allowed to update the loss, because it is prior to January 1, 2025. That is, he has no possibility of rectifying in favor of the taxpayer.”
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“If for a year starting on January 1, a company has a profit of $5,000,000 and has a loss for 2022, 2023 and 2024 of $3,000,000, which updated for inflation would give $5,000,000, there is no tax payable. ”
- “If for that fiscal year that begins on January 1, 2025, the company generates losses, that losses will be updateable, it will be computable against the base of the 2026 fiscal year.”
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
