Monday , November 30 2020

Financial income tax: Banks and market units must report all data to customers and AFIP



One week after the Minister Marcos Peña and Finance Minister Nicolás Dujovne signed the Decree 1.170, which regulated the new financial income tax incorporated as part of the tax reform, through Law 27,430, the Federal Revenue Directorate, Leandro Cuccioli, told the press "Little Print" to facilitate the settlement of resident taxpayers through 2 general resolutions.

As a first step, the AFIP holder is arranged through RG 4394 that all financial institutions, such as brokerage firms, depositors of funds, must submit all information on the income received and possession of financial assets for each of their clients who are human before March 15.

And later, as a customer service, them entities will be required to provide this information 30 days in advance at the end of the presentation of the sworn statement of the stipulated tax, provisionally on May 15, because the date required by the taxpayer would be around June 15.

AFIP's officials stressed that "DDJJ of the financial income tax must be presented separately to the amount corresponding to the income tax of individuals." The liquidation, which takes place with other rights, can be done via the agency's website.

While in the first place It is expected that a single date will be set for the presentation of the DDJJ of profits and financial income"There is a possibility that a more flexible period will be presented to new taxpayers not enrolled in AFIP, depending on the amount of this universe we do not know yet," he told a senior official in the agency before the hearing. of Infobae.

All you need to know and declare

Through general resolution 4395, AFIP stated that taxpayers responsible for paying the financial income tax must declare: name and surname; Unique Tax Identification Code (CUIT); Unique identification code (CUIL) or Information Code (CDI), as appropriate.

The collection agency stated that in the case of "foreign currency transactions, the conversion of the tax payable in pesos must be made at the last exchange rate set by the Banco Nación at the end of the payment day".

after long-term bank deposits, it does not include a current account or a savings account to be specified:

2. Certificate number

4. Registration dates and deadlines:

5. Formation currency

6. If you have an adjustment clause (CER, UVA, UVI);

8. Number of updates; and

9. Amount.

In the case of foreign currency transactions, taxable persons must declare in the original currency and correspondingly in Pesos.

For investments in public securities, marketable liabilities, shares in mutual funds, securities in financial trusts, bonds other public securities, you must declare to AFIP:

1. Number of main account

2. Code and designation for species

4. If you have a custom clause

5. Total amount recorded for each kind of updates and interests or returns, in original currency and in Argentine pesos.

In all cases, the taxable profit is set at a redundancy date of 31 December from 1 January. This includes the leases within this period, even if the owner at the end of the year does not store it in the portfolio.

In the case of Long-term loans with maturity after the end of the year, the financial entity shall inform the interests of its constitution until the closing date, the end of the calendar year.

the Established placements with an adjustment clause plus an interest rate plus. The rent will be determined by the difference between the amount of the original investment during the year and the updated value plus the annual interest rate.

Who is share holders shares in investment funds, the income obtained will be determined by the difference between the purchase value or the registration value at the beginning and end of the year. The price and subscription fee can be deducted.

In all cases for residents, the rate of financial income tax will be 5% for investments in national currency on the profit of the non-taxable minimum of $ 66,917.91 per share year; and 15% for assets in dollars or with a dollar clause, also for the portion exceeding the non-taxable minimum.


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