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Users of Mercado Pagoone of the most popular virtual wallets in Argentina, You need to be vigilant to avoid problems with the Federal Public Revenue Administration (AFIP).. The fintech created by Marcos Galperín became one of the most used financial instruments, but it is also under the microscope of the collection point.
Like the banks, Mercado Pago must comply with AFIP regulations. Therefore, the platform must iReport certain movements and operations if they exceed the specified minimum amountwith the aim of improving the transparency of transactions and avoiding possible fraud or scams.
The measure has been in force for a long time Last year, the organization updated the minimum amounts Mercado Pago must report.. The aim is to clarify the system and ensure that tax returns correspond to actual transactions.
It should be noted that although there is a minimum amount that must be reported,The application does not have a maximum limit of funds that can be deposited monthly, as everything depends on each user’s specific situation. For example, whether you are dependent or not, whether you have a stable income or not, and other factors.
Mercado Pago is required to report the following transactions to AFIP: transfers over $400,000; Total income and expenses over $120,000 and balances over $200,000.
What happens if I exceed the AFIP limits in Mercado Pago?
If a user exceeds the amounts set by the AFIP, the company may contact the account holder at Mercado Pago to request certain documents evidencing the means and operations carried out. Some of the documents requested are:
- Invoices issued in the last six months.
- Proof of retirement income.
- Payslips.
- Certificates of income issued by auditors.
AFIP has made a drastic decision when it comes to credit cards
The Federal Public Revenue Administration (AFIP) has reported the new amounts of credit card purchases that will require identification. The cap update went into effect on January 15 and represented a 106.67% increase since the last update.
“This amount varies between $92,720 and $191,624 when it comes to electronic payments.“, stated the organization, whose owner is Florencia Misrahi. “For cash or other non-electronic means of payment, the amount by which the end consumer must be identified is $95,812 (previously $46,360),” they added.
With that in mind, they explained it “If the invoice recipient is an end consumer, the following data must be provided, as long as the amount of the operation is at least $191,624. The amount increased by 106.67% (previously $92,720).”
Come on Data requested by AFIP Son: Surname and first name, address, if applicable Cuit/Cuil/CDI, ID number (LE, LC, DNI or, for foreigners, passport or CI).
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