Federal Tax Authority (FTA) General Resolution No. 4930/2021 (“Resolution“) was published in the Official Gazette on 8 February 2021, regulating the procedure to assess and pay the Solidarity and Extraordinary Contribution to Help Mitigate the Effects of the Pandemic created by Law No. 27,605 (“Contribution“), as well as certain clarifications related to information regimes related to the Contribution.
Published on 18 December 2020 in the Official Bulletin, Law 27,605 establishes the Contribution, which taxes assets that exceed ARS 200 million (approximately USD 2,127,000), with rates that vary from 2% to 5.25%.
Deadline to pay the Contribution
The Resolution establishes that the filing of the tax return and the payment of the outstanding balance will have to be made up to 30 March 2021, inclusive.
On the other hand, the Resolution establishes additional mechanisms for the valuation of assets, the procedure to repatriate them, and methods to pay the Contribution.
Article 9 of Decree No. 42/21 establishes that the FTA will have to implement reporting regimes to collect relevant data for the timely detection of transactions that could be deemed as evasion of the Contribution.
In this sense, the Resolution establishes that the following parties will have to report, as a sworn statement, their assets owned as of 20 March 2020:
- Parties subject to the payment of the Contribution.
- Parties not subject to the payment of the Contribution whose assets as of 31 December 2019 were valued, according to the Personal Assets Tax returns applicable to such fiscal year, at an amount equal to or higher than ARS 130 million.
- Parties not subject to the payment of the Contribution whose assets as of 31 December 2018 were valued, according to the Personal Assets Tax return applicable to such fiscal year, at an amount equal to or higher than ARS 80 million.
Additionally, parties mentioned on b) and c) will have to report assets owned as of 18 December 2020.
The filing of the reporting regimes will have to be done between 22 March and 30 April 2021, inclusive.
The Resolution is applicable as of 8 February 2021.
Click here to access the Spanish version: Argentina – Resolución Nro. 4930/2021. Reglamentación del Aporte a las Grandes Fortunas