AFIP has taken out of the freezer the rates it charges taxpayers for arrears in accordance. Starting from February the Agency will update the compensatory, punitive and tax recovery interest rates. Moreover, He announced that this will then be adjusted every two months.
Through resolution 3/2024, published in the Official Journal, the organization chaired by Florencia Misrahi has increased, starting from February 1st, the rates of compensatory, punitive and tax recovery interests that AFIP will charge and establishes a system of bimonthly update.
According to the recitals of the provision, the Ministry of Economy appropriate rates to encourage timely cancellation of obligations and prevent non-compliant taxpayers from financing their activities through tax non-compliance by reinstating an automatic updating system to this end.
The new rates are still below December and January inflation, but they are less negative for taxpayers. Specifically, the resolution establishes that “the monthly compensatory interest rate, in force in each two-month period, will be equal to 1.3 times the effective monthly active rate of current account overdrafts not previously requested from the Banco de la Nación Argentina, in force on the twentieth (20th) day of the month immediately preceding the beginning of the aforementioned two-month period.”
This was stated by tax expert Sebastián Domínguez, general director of the SDC Asesores Tributarios This would bring the compensatory interest rate to just over 15% per month
On the other hand, the monthly punitive interest rate “shall be equivalent to one point five (1.5) times the effective monthly active rate of bank overdrafts not previously requested at the Banco de la Nación Argentina, effective on the twentieth (20 ) of the month immediately preceding the start of the aforementioned two-month period. This, according to Dominguez’s calculations, implies a rate of 18% monthly.
Finally, the body has established that the interest rate applicable to the recovery of taxes and to cases of refund, reimbursement or compensation of taxes, “will be the effective monthly rate resulting from the consideration of the average of the rate published by the Central Bank of the Republic of Argentina in section “Interest Rates for 30-day Deposits in Financial Institutions” for the thirty (30) day period ending on the twentieth (20th) of the month immediately preceding the beginning of the aforementioned two-month period.
This is The rate went from fixed, less than 4% monthly, to variable, which today represents 9.1%. In this regard, Domínguez underlined: “Without a doubt, the rates in force until 01/31/2024 are negative real rates and very far from current inflation. This means that taxpayers, on many occasions, finance themselves through payment granted by AFIP or even do not pay since the cost of late payment is low and affects public accounts”
“However, the current economic context and the high tax pressure that exists in Argentina mean that many taxpayers are unable to fulfill their obligations on time. And a nearly triple increase in compensatory interest could hit them even more,” he said. added the specialist.
SN
Source: Clarin
