Through General Resolution No. 3756 of the Federal Tax Administration (“FTA”), published in the Official Gazette on March 27, 2015, a new payment facility was created for the regularization of tax and Social Security liabilities due up to February 28, 2015, inclusive, its interest and fines, among other things.

This facility allows up to 120 installments to cancel such debts, in equal and consecutive installments, with a monthly interest of 1.90%. The amount of each installment must be equal to or greater than AR$500, with exemption of the first installment, through which must be paid the 7% of the debt. For taxpayers under the Simplified Scheme for Small Taxpayers (Monotributo), the amount of each installment must be equal to or greater than AR$150.

The facility plan may be filed up until May 31, 2015.

Taxpayers who may want to include debts under this facilities plan should achieve the following requirements, among others:

• Cancel all the tax liabilities with deadlines between February 28, 2015, and May 31, 2015;
• File all the tax returns for the liabilities to be included in the payment facility;
• If the taxpayer is an employer, the amount of employees declared in the tax return F.931 expired in the previous month of the facility request should not be lower than the amount of employees declared in the tax return F.931 for December 2014. Such amount of employees must be maintained over the entire period of the facility, under penalty of termination of the plan.

Additionally, the installment payment plan will be terminated with the lack of payment of one installments, after 30 days of its expiration term.

Finally, it is noted that taxpayers that joined the payment facility will be allow to obtain the “Fiscal Certificate to Contract” with public entities of the National Administration and to enjoy the benefit of the reduction of the social security obligations, according to Resolution No. 4158.