Argentina – COVID-19: Filing Deadlines Extended for Withholding Agents

Argentina–Withholding Agents Filing Deadlines Extended

Argentina’s tax authorities have announced that the filing period for income tax returns prepared by withholding agents for the 2019 fiscal period is now being extended, exceptionally, until July 3, 2020.

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With General Resolution 4725/2020, Argentina’s tax authorities have announced that the filing period for income tax returns prepared by withholding agents1 for the 2019 fiscal period is now being extended, exceptionally, until July 3, 2020.2

WHY THIS MATTERS

The General Resolution aims to facilitate taxpayers’ and tax providers’ compliance with their tax and reporting obligations during this difficult period.

There is an employer reporting obligation that companies must comply with.  Meeting this obligation is important as any delays or errors in reporting could negatively impact employees given that this information forms a critical part of their own tax return obligations.

More Details

The amount determined in the above-mentioned annual tax return will be withheld or, if applicable, reimbursed, when the first payment is made or in subsequent payments (if it insufficient) and until August 10, 2020, inclusive.

The amount must be reported and paid up through the due dates set for the filing of the tax return.  Any resulting balance corresponding to the first fortnight of July 2020 of the withholding control system (SICORE), must be reported and paid on the same schedule, with the withholding date being July 3, 2020.

If final or informative returns that relate to an individual’s termination of employment or a change of withholding agent that are due during the months of January, February, March, April, and May 2020, are submitted up through June 30, 2020, they will be considered as timely filed. 

KPMG NOTE

We encourage employers to discuss their annual return obligations with their professional service providers, and determine if they have appropriate systems and procedures in place to meet their compliance obligations.  Penalties may be imposed if the submissions are not made on time.

FOOTNOTES

1  As stipulated in General Resolution No. 4003-E / 2017.

2  See (in Spanish) the “Resolución General 4725/2020” published in the Boletín Oficial at: https://www.boletinoficial.gob.ar/detalleAviso/primera/229883/20200528 .

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

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