Argentina released an moratorium for tax, social security and custom obligations.
Together with the Tax Amnesty, Title II of the bill of law recently approved by the Senate provides a new easy payment plan ("Moratorium").
It includes overdue tax and customs obligations as well as social security contributions as of May 31, 2016. It also includes obligations concerning the Fund for Cooperative Education and Promotion.
The bill does not include contributions towards the social insurance system or, fees on the regime of labor risks.
The obligations currently subject to administrative or judicial proceedings before the courts will only be included if the defendant waives and desists any action and right, assuming the payment of all costs and expenses.
In order to be included in the Moratorium, capital, penalties and interest must be paid, obtaining a 15% reduction when performed before adhering.
It also includes easy payment plans, by which payment of 5%, 10% or 15% must be made upfront, while the remaining amount could be settled in up to 90 monthly installments with a monthly interest of 1.5% when made by large companies and major taxpayers.
The benefits of this Moratorium will be the exemption and/or pardon of fines not subject to final judicial decision and compensatory or punitive interest. In addition, compensatory interest and/or punitive damages exceeding a certain percentage per fiscal year concerning tax, customs and social security obligations overdue, unpaid or taken, prior to the entry into force of this bill for offenses committed as of May 31, 2016.
In criminal cases, the request for Moratorium, as long as no final judicial decision has been passed, will suspend the criminal procedure and also interrupt the statute of limitations. In addition, compliance with this regime will annul any current criminal action.
The expiration facilities plan will involve the resumption of tax or customs criminal action, enabling the promotion by the AFIP of the corresponding criminal charges.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.