Argentina: Federal Tax Authority establishes regime of payment facilities for subjects reached by the "Solidarity and Extraordinary Contribution to help mitigate the effects of the Pandemic" created by Law No. 27,605

In brief

On 12 March 2021, Resolution No. 4942/2021 ("Resolution") was published in the Official Gazette by means of which the Federal Tax Authority (FTA) established a regime of payment facilities for subjects reached by the "Solidarity and Extraordinary Contribution to help to mitigate the effects of the Pandemic" created by Law No. 27,605 ("Law").


Contents

In more detail 

  1. Included subjects 

The subjects reached by the extraordinary contribution provided for in the Law may request for the cancellation of the balance resulting from such affidavit, together with their interest  ̶  if applicable  ̶  until 28 April 2021, in accordance with the payment facilities regime provided for in the Resolution.

  1. Requirements

The payment facility plan must meet the following conditions:

  1. There will be a payment on account equivalent to 20% of the consolidated debt.
  2. The maximum amount of quotas to be awarded will be five.
  3. The installments will be monthly, equal and consecutive, except for the first one, to which the financial interest will be added from the day of consolidation of the plan until its expiration, and will be calculated by applying the formulas that are consigned in the microsite called "My Facilities" available on the FTA website (http://www.afip.gob.ar/misfacilidades).
  4. The financing rate will correspond to the compensatory interest rate.
  5. The debt consolidation date will be the one corresponding to the cancellation date of the payment on account.
  6. The expiration of the payment facilities plan will operate automatically and without any intervention by the FTA when an installment is not paid within 30 calendar days after the expiration date thereof.
  1. Entry into force

The provisions of the Resolution became effective on 12 March 2021. The "My Facilities" service to file the payment facilities plan will be available from 23 March 2021.

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