The tax authority of Argentina (AFIP) has introduced a special installment plan through General Resolution No. 3727/2015 with the aim of helping taxpayers to settle tax, customs and social security debts by instalments in certain cases.
The regime introduces a payment plan according to which 120 monthly installments at a monthly financing rate of 1.9% in Argentine pesos (i.e., annual interest rate of 22.8% in Argentine Pesos) will be applied. However in the case of changes to inflation the installment plan could be cancelled with a cash payment.
The regime does not include tax and social security withholdings, tax prepayments and/or payments on account, or the value added tax payable for service imports.
To benefit from this regime taxpayers will have to file all tax returns by the date of the installment plan, file and pay all tax obligations with due dates from 28 February 2015, until the due date for inclusion in the plan. The taxpayers will also have to have at least the same amount of employees they had as of December 2014.
The taxpayers will have to contact the tax authority before 31 May 2015 to apply for this regime.
