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    Argentina – Update on Parameter Regarding 2023 Informative Tax Return Filings

    GMS Flash Alert 2024-120 | May 28, 2024

    On 21 May 2024, Argentina’s tax authorities published the new minimum amount in respect of the Informative Income and Wealth Tax Return (Declaración Jurada informativa sobre Ganancias y Bienes Personales) for the 2023 tax year. This announcement was published by Argentina’s tax authorities (La Administración Federal de Ingresos Públicos (AFIP)) on their webpage “ABC Consultas Frecuentes” under the question ID 12766887.1 (For prior coverage, see GMS Flash Alert 2023-087, 25 April 2023).

    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 15,917,863.58.2

    Why this matters

    his update may change the filling requirements for those employees in Argentina whose annual gross income during 2023 was higher than ARS 15,917,863.58. Such individuals, therefore, will have to file a 2023 Informative Income and Wealth Tax Return.

    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 AFIP.

    The due date established for this type of filing is 30 June 2024.

    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 for the previous year.

    Contacts

    rodolfo-canese-mendez
    Rodolfo Canese Mendez

    Partner, International Corporate Tax & GMS

    KPMG Argentina

    cecilia-nunez
    Cecilia Nunez

    Partner

    KPMG Argentina

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    Footnotes

    1 See (in Spanish) “ABC Consultas Frecuentes – ID 12766887” published on AFIP’s webpage.

    2 See (in Spanish) "Declaración Jurada Informativa" on AFIP’s webpage.

    *     *     *     *

    ARS 1 = EUR 0.00103

    ARS 1 = USD 0.00112

    ARS 1 = GBP 0.00087

    ARS 1 = BRL 0.00577

    Source: www.xe.com

    Disclaimer

    The information contained in this newsletter was submitted by the KPMG International member firm in Argentina.

    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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