The project of modification of the Income Tax law that the Government sent to extraordinary sessions of Congress had a bittersweet taste for tax payers and accountants. These are the tax losses of companies, which from January 2025 can be updated by CPI.
The measure will prevent inflation from “eating” a benefit for companies that allows them to pay less. QBut it will only be effective for the exercises that close from now on. Losses from previous years that have not been used can only be updated for the inflation that occurred during the period of Javier Milei’s government.
But, on the other hand, The law closes the door to those who updated losses based on previous regulations, which indicate that it could be done through Wholesale Prices, although the former AFIP and now ARCA, do not recognize it. As these are cases in conflict, the project indicates that A company will not be able to update its future tax losses if it does not give up on these past causes.
How do tax breaks work?
The law of Income Tax allows companies to make adjustments to their balance sheets that, for the treasury, can determine losses (losses). These can then offset the profits that the company obtains during a year and be applied against it so that the determined tax is lower. The loss can be attributed to up to five future years. The problem is that, when they are not used, inflation liquefies them.
What do accountants think?
Diego Mastragostinomanager of the Tax department at Bertazza, Nicolini, Corti and Associates stated that “the previous losses will be updated from December 2024 to the year in which they are used.” “That is, they are not updated from the year of origin, which “It will continue to generate judicial disputes due to confiscation, if applicable,” he clarifies.
Sebastián Domínguez, CEO of SDS Asesores Tributarios, explained that “Most of us think that we do not agree with this, that they cannot be updated.” “Not at all The law does not prohibit updating, can be done, what happens is that the AFIP, at the time, maintained that no, then the Ministry of Economy, a couple of weeks ago, issued an opinion saying that they are not updated and this bill comes to accept that position that they are not updated, but the reality is that there are arguments so that they can be updated,” said Domínguez.
Martín Caranta, partner of Lisiki, Litvin y Asociadoswarns that in the event that a company decides to update previous losses “Only the inflation of the year prior to the one that begins on or after January 1, 2025 will be recognized,” which is defined as “Milei inflation.”
Caranta clarifies that, “For the updating of all losses, both new and previous, there is the condition of not having updated losses previously, or resigning and ‘regularizing’ “the tax stops being paid due to said update.” “The Government is saying that it is going to recognize the taxpayers’ ability to pay in the future, but to do so it is telling them that it is going to ignore their ability to pay in the past. This has no technical explanation, but rather a collection one. “It is telling companies not to update 2024 losses in order to collect more,” he explained.
Desist from previous claims
If a company updated a loss due to inflation in the past and is in conflict with ARCA, the reform gives it the option to desist, rectify its sworn statement in favor of the treasury and enter a “mini moratorium” of 36 installments to pay off that specific debt. If you don’t even do this, you probably won’t be able to update losses from now on.
Diego Fraga, lawyer specialized in tax issues, states that The bill somehow closes the door to companies so that they can update their losses from January 1, 2025 onwardsif they do not give up their intention to update the losses of previous periods for wholesale inflation.
Source: Ambito

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