Tax News

- General Resolution No. 1178, issued by the Tax Authorities, ruled the procedure that taxpayers must follow to obtain a non-indebtedness certificate from the Tax Authorities (“Certificado de Libre Deuda Fiscal”) to pay bank debts with public bonds.

- According to certain information, the Ministry of Economy will propose the modification or derogation of the Competitiveness Plans.

- General Resolution No. 1182, issued by the Tax Authorities, abrogated the first 1% payment on account of the estimated tax debt as a requisite to adhere the moratorium ruled by Decree No. 1384/2001. Said payment on account was due on December 20, 2001. Pursuant to the new General Resolution, taxpayers that wish to adhere such moratorium must pay the 2% of their estimated debt (and not the 3%, as it was due under the prior regime), in two monthly instalments, due on January 22, 2002 (1%) and on February 22, 2002 (1%).

- Decree No. 1.645/2001 cancelled the authorization to issue Certificates of Fiscal Credit to pay future tax liabilities under Decrees No. 1.005/2001 and 1.226/2001.