Transfers between CVUs will also be covered by gross income tax
Just like banks, digital wallets will begin to be withholding agents in the payment of gross income tax, which is levied in 23 provinces of the country. Specifically, a resolution was published in the Official Gazette of this Tuesday with which the creation of a computer system who will be in charge of collecting this tax through PSPs (Payment Service Providers) across the country.
The Information System for the Collection and Control of Credits on Payment Accounts “SIRCUPA”, will act as today the SICREB, System of Collection and Control of Bank Credits, or will withhold tax rates on money credited to these digital accounts.
This implies that those taxpayers affected by the tax of gross income they will see the withholdings every time they receive a wire transfer from a third party, whether in pesos or dollars.
The decision of the Arbitration Commission of the Multilateral Agreement, the body responsible for managing the correct application of Irpef, comes after the Central Bank has taken several decisions regarding the tax treatment of digital portfolios.
One of the most important was the rule in place since the end of last year, which requires these players to do so have 100% of the “money on account” of its users available. Previously, the body had ordered the establishment of a register of all those PSPs that function as “payment accounts”.
The publication in the Official Gazette establishes that the computer system for the collection of these taxes must be available starting from October 1st. During start-up, different jurisdictions must enter into the necessary technical agreements to start charging in a unified way.
By April of this year, transactions with Uniform Virtual Accounts (CVU) exceeded 50 million when a year ago they were not even half as high, according to data from the main administrator of the system, Coelsa.
As published by Clarin, it is estimated that currently More than 20 million people pay and send money via a digital wallet account. Expanding its use means that the tax burden also reaches these relatively new players in the financial system.
In late May, AFIP ruled that digital wallets must report the movements of their clients when they exceed $ 30,000. The body also began to take of this type of money accounts owed by their defaulting clients. According to a report released at the end of June, $ 800 million in debt to the treasury had been “recovered”.
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Ana Chiara Pedotti
Source: Clarin
