Extraordinary income: the AFIP seeks $ 200,000 million with an advance of Profits for large companies

In a one and a half hour meeting, Mercedes Marc del Pont and his successor at the head of the Federal Administration of Public Revenues (AFIP), Charles Castagnetodefined yesterday the regulation with which the Government will seek to acquire more than $200 billion through a income tax advance what will they pay 2000 large companieshe knew The chronicler from official sources.

As this medium reported on Friday, the Executive found a way to increase the collection of this year and reduce the tax deficit or finance some kind of relief to the middle and low income sectors.

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I’ll do it with a extraordinary payment on account who must pay the 2000 companies larger than, according to the view of the Government, register “windfall benefits” due to increases in international prices of foodsthe energy and others commodities.

This payment on account advance collection that, otherwise, the AFIP would receive only in mid-2023with a 80% inflation in the middle.

Carlos Castagneto, new head of the AFIP, met with Mercedes Marc del Pont to work on the project

Y you don’t need to go through Congresssuch as the extraordinary rate to tax the “unexpected income” that the former minister devised Martn Guzmn and that it has a difficult time surviving in the parliamentary debate.

The resolution will be based on the Article 21 of Law 11,683 on Fiscal Procedures. The text empowers the AFIP to demand “the deposit of amounts on account of the tax that must be paid in the fiscal period for which the advances are settled.”

Why is the advance payment of Earnings charged?

Also, “to dictate the complementary regulations that it considers necessary, regarding the advance payment system and especially the calculation bases, computation and applicable indices, deadlines and expiration dates, updating and requirements to be covered by the taxpayers.”

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At the meeting this Monday morning, Marc del Pont handed over the ball to Castagneto so that he could implement the new advance.

For the companies, not be a grown up tax pressurealthough they must allocate cash to the extraordinary advance.

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Yesterday afternoon, when taking the oath as new secretary for strategic affairs to Marc del Pont, the president Alberto Fernndez affirmed that the now former head of the AFIP leaves the organization with a up from 87% annual revenue in July9% above inflation.

The treasury accumulated 23 months in a row with increases higher than inflation. Visibly moved, Fernndez praised Marc del Pont: “He was a central character in the Allocation to Labor and Production (ATP)in the loans at 0% ratein the IFE; was the protagonist of a series of measures we took to make more progressive the Argentine tax system“.

With advance, The Government expects to collect the equivalent of what it spent on the social aid it gave between April and June with the Income Boosters what they charged monotributistas and informal workers.

It remains to be seen whether the new economy minister Serge Massa use those resources to lower the deficit or whether to use the mass of money to grant additional reinforcements in income, after the high inflation of the last few months.

According to the consultant C&TJuly closed with a Consumer Price Index (CPI) of 7,6%, the highest figure since April 2002.



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