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Argentina temporarily suspends its mandatory tax planning disclosure regime
In brief
The Argentine Tax Authorities (‘AFIP’) issued a resolution on September 1 that temporarily suspends, for 60 calendar days, the mandatory disclosure regime established in a 2020 resolution related to domestic and international tax planning strategies.
During the suspension period, AFIP expects to clarify the current rules for purposes of improving the efficiency of the regime.
Observation: The regime’s suspension likely will not alleviate taxpayers’ requirement for complying with the regime. Affected taxpayers not only should be prepared to resume compliance once the suspension is lifted, but also should watch for clarifications and changes to the disclosure requirements.
Background
The AFIP issued Resolution 4838/2020 on October 19, 2020, thereby creating an information regime with respect to domestic and international tax planning strategies that follow the guidelines under BEPS Action 12 (Mandatory Disclosure Rules).
According to the Resolution, domestic tax planning strategies must be reported by the last day of the month following the last month of the fiscal period during which the planning strategy was implemented. Under the same resolution, cross-border planning activities have to be reported within 10 days of implementation.
Pursuant to the Resolution, taxpayers (and tax advisors) must report any agreement, scheme, plan, or other action resulting in a tax advantage or any other benefit with respect to any Argentine federal tax (not only income tax), or any informative regime in place in Argentina, either in a domestic or cross-border context.
Regime suspension
Newly issued Resolution 5254/2022 suspends the regime for 60 calendar days beginning on September 1, 2022. The suspension was preceded by several court cases that temporarily suspended the regime in those particular cases due to the regulation’s lack of clarity. In this regard, AFIP expects to amend the regime during the 60-day suspension period in order to address concerns raised by the courts.
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