Extension of the Exemption Suspension for Advanced Payments Applicable to Definitive Imports
General Resolution 5476/2023, published on December 29, 2023, extends the deadline of the regulation that prevented applying the certificates that exempted taxpayers from paying advanced payments on VAT and Income Tax upon definitive imports.
The regulation published by AFIP expands the suspension of the application of exemption certificates established in General Resolution 5339/2023 (published on March 29, 2023) for advanced payments on definitive imports up to June 30, 2024.
This regulation had not cancelled the exemption certificates obtained by taxpayers with excess tax credits on VAT and Income Tax, but had prevented them from using the credits for advanced payments of those taxes applicable to definitive imports. But for a few exceptions, importers had to pay these advanced payments upon whatsoever definitive imports.
General Resolution 5476/2023 now allows importers to use their advanced payments on VAT as a credit to be included in each monthly fiscal period in which the corresponding definitive import took place.
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.