The Argentine Tax Authorities issued General Resolution No. 5,248 created a one-time advance payment applicable to companies that earn “extraordinary” income, payable in three installments.
It applies for tax periods 2021 or 2022 in the cases in which:
a) the tax assessed is equal to or exceeds AR$ 100,000,000
b) the tax result is equal or higher than AR$ 300,000,000.
This advance payment will be 25% of the tax assessed, or 15% of the tax result without considering the losses of previous years.
The income tax return for the fiscal year 2021 will be considered for taxpayers whose fiscal year-end would have operated between August and December 2021 and that related to fiscal year 2022, for those with fiscal year-end between January and July 2022.
Companies that have obtained an income tax exemption certificate in force in 2021 or 2022 will be exempt.
Finally, we highlight that the companies subject to this “extraordinary tax” may not apply either for a compensation or reduction process applicable to regular advance payments
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