Who will be affected by this new restrictive measure of the ARCA starting in December.
In October 2024, the Government of Javier Milei decreed the dissolution of the Federal Administration of Public Revenues (AFIP) to streamline bureaucratic movements and further reduce public spending, replacing it with the Customs Collection and Control Agency (ARCA) and transferring its obligations.
Among the recent modifications announced by the new organization, they announced that they will apply a 5% withholding on bank transfers to certain taxpayers who do not comply with their tax obligations. This measure has already come into force, and is accompanied by others restrictive measures.
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To whom ARCA will apply the 5% withholding
This percentage will not apply to all taxpayers, it is aimed at people whose income are not formally declared under a tax regime, to those who do not file your income tax return properlyand within the deadlines established by ARCA. In addition to withholding, you may also face:
- Compensatory interest.
- Difficulties in accessing bank loans.
- Tax investigations due to inconsistencies.
- Restrictions on carrying out commercial transactions.
How to avoid withholding for taxpayers
To avoid being subject to this withholding, ARCA recommends taxpayers regularize their tax situation. This includes:
- Update records: Verify that the income is correctly declared before ARCA.
- Consult a professional: Go to an accountant or specialist to review and normalize the tax status.
- Document operations: Keep a detailed record of all bank transfers made.
- Inform the banks: Communicate any non-commercial operation to avoid improper withholdings.
- Ensure fiscal consistency: Ensure that financial movements are consistent with the profile declared to ARCA.
Source: Ambito
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