Income Tax. Adequacy of the withholding regime on dividends and others
The withholding regime of this tax on the following taxes is adapted dividends and similar profits paid or made available to individuals or undivided estates resident in the country and to beneficiaries abroad, for tax years beginning on or after January 1, 2021 .
The amount to be withheld will be determined by applying the 7% rate, instead of 13%, in all cases.
Modern biotechnology – Accelerated amortization and VAT credit and/or refund in advance
Adjustments are established in the AFIP regulations to access the tax benefits of the Regime for the development and production of modern biotechnology.
Benefits of accelerated amortization of income tax and/or requesting the accreditation and/or early refund of value added tax, the Application Authority will make available to AFIP, the information for each of the beneficiaries, which must be transmitted to a computer server. For such purpose, the respective Fiscal Code enabled with Security Level 3 as a minimum shall be used.
Tax Credit Bonds
- They shall be non-transferable and shall be valid for ten (10) years from the date of approval of the project.
- The Ministry of Productive Development will inform AFIP the list of the electronic bonds issued, which information will be prepared using the sworn statement form No. 1,400.
- In the case of import operations, they may be imputed to the cancellation of the referred taxes, as well as their respective withholdings and/or perceptions, to the extent that they originate in the acquisition of inputs, capital goods, parts and/or components for the local manufacture of goods, related to the biotechnology sector or any other sector that contributes directly to the development thereof.
- They may not be used to cancel debts prior to the effective approval of the project, generate eventual fiscal balances in its favor, or give rise to reimbursements or refunds by the State.
- They may not be used to cancel obligations derived from the substitute or joint and several liability of the taxpayers for third party debts or from their performance as withholding and/or collection agents, nor shall they be applicable to settle taxes exclusively destined to finance funds with specific allocation, or debts corresponding to the Social Security System.
Taxpayers and/or responsible parties, in order to make the consultation or allocation of tax credits, must access the “Tax Incentives and Credits Administration” service available on the institutional web site (http://www.afip.gob.ar)For this purpose, the respective Fiscal Code enabled with Security Level 3 as a minimum shall be used.
> For more information on General Resolution 5060/2021 click here.