VAT refund: some doubts and what remains to be defined

VAT refund: some doubts and what remains to be defined

September 15, 2023 – 10:47

Several announcements of tax measures were made in recent days, the most current for consumers was the reduction of the Value Added Tax for purchases of the basic basket, which still leaves open questions.

This Thursday, the Government announced that the Program “Buy without VAT” for the acquisition of products from the basic basket destined to retirees, workers and monotributistas. This is an initiative that contemplates the refund of up to $18,000 of VAT on purchases of food supplies. Initially, many questions arose about how the benefit will be applied, which were clarified throughout the day. However, still some points remain to be defined.

What about virtual wallets?

One of the ones that generates the most noise is that of the digital paymentssince, for the moment, the virtual wallets such as Ualá, Mercado Pago, MODO or others, are not included in the program. However, in the last few hours, the DNI Account Wallet was added to Banco Provincia’s wallet and, on the other hand, you can use the debit card that is associated with the virtual wallet and have the same refund.

As explained by the Government, this is because implementation is difficult. Therefore, at first, it applies to the purchases made with credit and debit cards, but not with virtual wallets. What was sought was to apply the inflation relief measure quickly and then adjust the possibilities of use.

However, something important to keep in mind is that yes The refund is made in the case of online purchases with a debit card, but only in cases where they are associated with a salary account. A refund cannot be given if it is an additional card or prepaid cards.

In that sense, each person will be identified with the CUIL or CUIT in the database to cap the limit at that amount.

Mobile wallets

The government seeks to advance in regulating payment without VAT with virtual wallets.

The government seeks to advance in regulating payment without VAT with virtual wallets.

The measure may affect in the coming days or weeks the growth dynamics that the adoption of electronic payment methods has been experiencing. So, to avoid that and facilitate the dynamics for users, work is underway to enable cashback in the use case of digital wallets as well and it is likely that there will be news soon in that regard.

What happens if I work in an employee relationship and am a monotributista?

On the other hand, a big doubt is How does this benefit and the ANSES credits apply for employees who are monotributistas?. Since many people have a blank job with medium to low income and they complement that asset with some activity that they carry out on their own, billing through the Monotributo.

For now, It was defined that those who are monotributistas will not be able to have extra income to access the benefit, but it is expected that the Government will be able to make a clarification in that regard shortly as well. One possibility is that a maximum amount of earnings is established between monotax and blank work to be able to enjoy the benefit. Even it can be considered to include only some categories of this simplified billing regime in the program in the case of those who have a job in a dependent relationship and one on their own.

How does it apply to shared accounts?

Another case that raises doubts in some people is what happens when using a shared account with another family member. For example, for having a joint venture. In these cases, Only the cardholder will be able to access the VAT refund. and not another person.

Let’s remember what are the requirements that beneficiaries must meet to access the Buy without VAT program:

  • Retirees will not be able to collect more than three minimum salaries. Today the minimum asset is $87,460, Therefore, those who are excluded from this benefit charge above $262,380.
  • Formal workers must have income of up to six minimum, vital and mobile salaries ($708,000 gross in total).
  • The monotributistas They will not be able to have extra sources of income other than the main one.

These parameters can serve as a reference when clarifying some doubts, although it is expected that, as the standard is regulated, most will be clarified.

Source: Ambito

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