As a basis for Resolution 4673 of the Official Gazette, the Federal Administration of Public Revenue (AFIP) officialized this morning how the payment of advances for the 2019 and 2020 tax periods of the Personal Property tax was established in outside. From the body conducted by Mercedes Marcó del Pont, the measure was considered to encourage the repatriation of financial assets, worth 5% of the assets located abroad provided for in the regulation of the Social Solidarity Act and Productive Reactivation.» Taxpayers who repatriate and maintain the amounts deposited until the end of the year shall be exempted from the on-account payment and, therefore, shall not pay the differential taxes on personal property for the assets in outside,» they reported from the administration.
This considered that taxpayers with goods abroad have until 31 March this year to repatriate 5%. Where taxpayers who made a request to waive the income from the payment on account do not comply with repatriation or terms of tenure, the obligation corresponding to the on-account payment will again be payable along with compensatoritory interest. The additional account payment for the 2019 tax period must be paid between March 4 and April 1 next, while the payment for the 2020 tax period must be made between February 1, 2021 and April 5, 2021 , as established by the official regulations today.
The AFIP General Resolution states that the advance shall be determined as a percentage of the total of the goods declared abroad. Ultimately, it states that the aliquot will be between 0.1% and 0.5% of that amount, and the on-account payment cannot be offset by unavailable balances. In this note: