AFIP has published the details of the extraordinary advance payment of corporate income tax

The Federal Administration of Public Revenue (AFIP) made official Tuesday the advance payment of income tax, one-time and on accountwhich will have to face about two thousand companies that had it “extraordinary income” for the war in Ukraine and that they would have had to pay what this year would correspond to the next.

General Resolution 5248/2022, published in the Official Gazette with the signature of the head of AFIP, Carlos Castagneto, provided the details of the “deposit applicable to the subjects listed in article 73 of the tax law, with extraordinary income” as well as its implementation.

The regulation, in its recitals, stated that “our country, as a historical exporter of some of the goods it has registered extraordinary increases in their international prices“Due to the covid-19 pandemic and the war between Ukraine and Russia,” they have benefited from an improvement in terms of trade “.

In this regard, he stressed that “due to this exceptional situation, local economic actors benefited from obtaining extraordinary income for the marketing of certain products and services “and that,” in this type of situation, it is necessary for the State to get involved, generating tools that make it possible to reduce negative impacts “and articulating measures aimed” at a progressive redistribution of income “.

For this reason, AFIP has deemed it “appropriate to establish – for the only time – an extraordinary payment of income tax that must be paid by certain subjects who, in addition to having benefited from the effects described, also show a high ability to pay . “.

As reported, this set of taxpayers “represents a universe less than one percent of the total of legal persons who submit sworn tax declarations “.

Article 1 of the General Resolution in question provides, in this context, “a single payment of the income tax due by taxpayers and managers listed in article 73 of the aforementioned tax law, text ordered in 2019 and its amendments, that meet any of certain parameters “.

One of these is that “the amount of the Determined Tax of the deed of notoriety corresponding to the fiscal period 2021 or 2022, as the case may be, pursuant to Article 2, is equal to or greater than ONE HUNDRED MILLION PESOS ($ 100,000 .000.-) “.

The rest is that “the amount of the tax result that emerges from the deed of notoriety referred to in point 1. above, without applying the deduction of the tax losses of previous years pursuant to the aforementioned tax legislation, is equal to or greater than THREE HUNDRED MILLION WEIGHT ($ 300,000,000.-) “.

“Legal entities that have obtained an income tax exemption certificate will be excluded,” it was clarified.

The head of AFIP, Carlos Castagneto, explained the provision in a slightly more colloquial tone, in dialogue with Clarione. In that note, you indicated that “individuals with an income greater than $ 300 million must advance 25% and those exceeding $ 100 million, 15%”.

The payment scheme, he said, will be as follows: if companies have closed the fiscal year between August and December 2021, October, November and December are paid; In January 2022, November, December and January ’22 are paid and so on. Those who closed in July of this year pay in May, June and July 2023.

“We ask for an advance of six months and next year they pay the rest,” said Castagneto.

How payments are to be made

According to article 5 of the regulation, the down payment determined it will be paid in three equal and consecutive installmentsand “when any of the expiration dates indicated coincide with a public holiday or non-business day, it will be postponed to the immediately following business day.

The scheme is as follows, taking as reference the end of each financial year and the due dates of each of the installments:

– From August to December 2021: October / November / December 22, 2022 respectively.

– January 2022: November 22 / December 2022 and January 2023 respectively.

– February 2022: December 22, 2022 and January / February 2023 respectively.

– March 2022: January / February / March 22, 2023 respectively.

– April 2022: February 22 / March / April 2023 respectively.

– May 2022: March / April / May 22, 2023 respectively.

– June 2022: April 22 / May / June 2023 respectively.

– July 2022: May / June / July 22, 2023 respectively.

The funds raised, for the bonus for retirees

As specified prior to the publication of this document, of the funds obtained, estimated at $ 250,000 million, the money with which a bonus will be paid to pensioners who collect the minimum amount. Three installments of $ 7,000 each will be paid between September and November.

Tax experts question the legitimacy of this measure, which has raised three major concerns among specialists: that it is not a transitional provision and becomes effective as a permanent tax, that more companies are affected than expected, and that companies must assume the obligation to prove they do not have the so-called “extraordinary income”.

IS