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    GMS Flash Alert 2024-001

    Argentina – Update on Parameter Regarding 2022 Informative Tax Return Filings

    GMS Flash Alert 2023-086 | 21 April 2023

    On 19 April 2023, Argentina’s tax authorities published General Resolution 5349/2023 to announce an update on the parameters for determining if an individual is subject to filing requirements in respect of the Informative Income Tax and Wealth Tax Return (declaración jurada informativa sobre Ganancias y Bienes Personales) for the 2022 tax year.1, 2  (For prior coverage, see GMS Flash Alert 2022-121, 21 June 2022.) 

    The norm establishes the obligation to file an informative tax return for individuals who receive a certain gross amount of compensation in the fiscal year (whether they are subject to tax or exempt from income tax).  The update sets the new amount at ARS 6,600,000.  

    WHY THIS MATTERS

    This update may change the filling requirements for those employees in Argentina whose annual gross income during 2022 was between ARS 3,700,000 and 6,600,000.  Therefore, any change of action can be taken before the informative tax return deadline.

    More Details

    The obligation to file an Informative Income and Wealth Tax Return applies for individuals whose only source of income is employment income subject to withholding at source and whose annual gross income exceeds the minimum set by the Argentine tax authorities (as earlier noted, currently set at ARS 6,600,000). 

    The due date established for this type of filing is 30 June 2023.

    At the same time, the resolution implements an annual, automatic update to the amount of gross income pursuant to a special procedure for indexation applicable for FY 2023 onwards. 

    Argentina – Update on Parameter Regarding 2022 Informative Tax Return Filings

    The obligation to file an Informative Income and Wealth Tax Return applies for individuals whose only source of income is employment income subject to withholding at source and whose annual gross income exceeds the minimum set by the Argentine tax authorities (as earlier noted, currently set at ARS 6,600,000). 

    The due date established for this type of filing is 30 June 2023.

    At the same time, the resolution implements an annual, automatic update to the amount of gross income pursuant to a special procedure for indexation applicable for FY 2023 onwards. 

    KPMG INSIGHTS

    Companies with globally-mobile employees who are paid via an Argentine payroll should consult with their usual tax service professional, or a member of the GMS tax team with KPMG in Argentina (see the Contacts section), about the population that would be required to file the informative tax returns in light of the new parameter concerning income, because this modifies the information that was initially required.

    Contacts

    rodolfo-canese-mendez
    Rodolfo Canese Mendez

    Partner, International Corporate Tax & GMS

    KPMG Argentina

    cecilia-nunez
    Cecilia Nunez

    Senior Manager

    KPMG Argentina

    Additional Resources

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    Footnotes

    1  See (in Spanish) the “Resolución General 5349/2023” published in the Boletín Oficial (online) at: https://www.boletinoficial.gob.ar/detalleAviso/primera/284722/20230419 .

    2  See (in Spanish) the AFIP webpage "Declaración jurada informativa" at: https://www.afip.gob.ar/gananciasYBienes/bienes-personales/declaracion-jurada/informativa.asp .

     

    ARS 1 = EUR 0.004

    ARS 1 = USD 0.0045

    ARS 1 = BRL 0.023

    ARS 1 = GBP 0.0036 

    ARS 1 = CAD 0.00616

    Source: www.xe.com 

    Disclaimer

    GMS Flash Alert is a Global Mobility Services publication of the KPMG LLP Washington National Tax practice. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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