AFIP – Request for reduction of Income Tax Advances. Special procedure.

RG 5246/2022 establishes a special procedure applicable to requests for the option to reduce income tax advances, for taxpayers whose base amount for the calculation exceeds $ 50 million and request a reduction of more than 10% of the amount of the original advance payment. Both requirements must be met concurrently.

The filing must be made through AFIP’s web service with Fiscal Code in the section “Digital Filings”, selecting the procedure “Income Tax Advance Payment Reduction Request – Special Procedure”, at least 60 days prior to the expiration of the last advance payment of the tax period of the option.

The presentation should include the following information:

• The tax period of the advances.
• The amount of the new projected base, attaching the documentation supporting such projection.

Likewise, the AFIP may request, through the taxpayer’s Electronic Taxpayer Address, the elements of assessment and documentation it deems necessary to consider whether the request is admissible.

The resolution period is 60 calendar days from the date of filing. In case it is approved, it will be registered in the “Tax Accounts” system, decreasing the totality of the advances of the fiscal period in question, which will take effect as from the first advance payment with maturity as from the date of approval of the procedure.

For more information on General Resolution 5246/2022 that establishes the reduction of income tax advances click here.

Modifications to the “foreign exchange and foreign exchange” rules for the entry and settlement of foreign currency.

By means of Communication “A” 7570/2022 the Central Bank (BCRA) extended to 180 days from the date of collection, the term to enter and settle foreign currency corresponding to advances, pre-financing and post-financing of exports, which are subject to compliance with all of the following conditions:

• The transfer of the foreign currency has been deposited in the correspondent account of the local entity from 04/08/22 until 04/11/22.
• The client has registered foreign currency settlements in the foreign exchange market for advances, pre-financing and/or post-financing from abroad in the year 2022 for an amount equal to or greater than the equivalent of USD 100 million.
• The customer deposits the funds to be credited in a “Special account for crediting export financing” of his ownership until the foreign currency is settled; or undertakes that the funds will remain credited in the correspondent account of the entity until they are credited through the foreign exchange market.

For more information on Communication “A” 7570/2022 click here.