As of this Monday, May 1, banks and virtual wallets must inform the Federal Administration of Public Revenue (AFIP) of movements in accounts, fixed maturities and credit card transactions That exceed $200,000.
It is an operation that it has been in force for five years and in which the amounts that serve as the threshold to enter the AFIP radar increase every year,
In this way, the AFIP has updated the amounts from which the financial institutions must inform the agency. Until April 30 that apartment was $90,000 and starting this Monday it’s up to $200,000 for credit card purchases and fixed terms.
The official body has been applying this regulation since 2018. As inflation rises, the amounts by which banks must report to the AFIP are updated each year through an index that takes into account the evolution of prices.
Payment Service Providers (PSPs), known as virtual wallets, were incorporated into this information regime in July 2021.
The provision was established with the art General Resolution 5348/2023 published in the Official Gazette on April 19, 2023 and bears the signature of the administrator of the agency, Carlos Castagneto.
The regulation specifies that for consumption with a debit card, the amount from which the tax is informed will also change. Goes to $120,000, leaving behind the previous amount of $30,000.
Therefore, debit transactions that exceed $120,000 in the month and credit purchases that exceed $200,000 combined, as well as term placements, will be reported.
The new data will be calculated in monthly terms and will include all types of accreditation. In addition to fixed maturities, the measure also affects deposits, wire transfers received and account balances.
Banks will also notify the AFIP when the amount of a transaction involving cash inflows or outflows, wire transfer, in foreign currency, digital currency by wire transfer or virtual equal to or greater than $400,000. This amount doubles the previous limit.
According to the AFIP, these changes “allow entities and administrators to streamline their operations and the agency optimizes the information it receives automatically and permanently”.
“These are the amounts that banks are obligated to report to the agency. AFIP does nothing with that data. It just stores them, which is one of the body’s functions,” reported by the Castagneto team.
This system is applied to check the taxpayers’ activity and that there is a correlation between the declared income and the operations carried out. The last update was done at the end of last year.
In addition, virtual wallets or digital financial platforms, such as Mercado Libre, Ualá or Modo, must report movements in accounts that record total income or expenditure in a month, equal to or greater than $120,000 (previously $30,000).
They must also provide the AFIP with information on the accounts which, on the last working day of the reported monthly period, have balances equal to or greater, in absolute terms, than $200,000 (amount previously set at $90,000).
When these amounts are exceeded, banks or virtual wallets must communicate to the AFIP “the list of accounts with which each of the customers identifies, the changes that occur and the total amounts of income, expenses and final monthly balance” .
NS
Source: Clarin
