Modification of Interest Rates - Law 22415
On August 23, 2022, Resolution 559/2022 of the Ministry of Economy came into force, modifying the rates of compensatory and punitive interests regulated in the Customs Code and the Tax Procedural Law.
Sections 794, 845, and 924 of Law No. 22415 (Customs Code), and Section 37 of Law No. 11683 established a monthly compensatory interest rate of five point ninety-one percent (5.91 %).
Section 797 of Law No. 22415 and Section 52 of Law No. 11683 established a monthly punitive interest rate of seven point thirty seven percent (7.37 %).
In these cases, if the obligations were stated in U.S. dollars, or according to the amount of certain categories or other similar concepts in force at the date of the effective payment, the applicable interest rates will be zero point eighty three percent (0.83 %) and one percent (1 %) per month, respectively.
Finally, in the event of a refund, reimbursement, or compensation of taxes stated in section 179 of Law No. 11683 and sections 811 and 838 of Law No. 22415, the interest rate will be three point eighty-four percent (3.84 %) per month.
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.