On 21 May 2024, Argentina’s tax authorities published the new minimum amount in respect of the Informative Income and Wealth Tax Return (Declaración Jurada informativa sobre Ganancias y Bienes Personales) for the 2023 tax year. This announcement was published by Argentina’s tax authorities (La Administración Federal de Ingresos Públicos (AFIP)) on their webpage “ABC Consultas Frecuentes” under the question ID 12766887.1 (For prior coverage, see GMS Flash Alert 2023-087, 25 April 2023).

The norm establishes the obligation to file an informative tax return for individuals who receive a certain gross amount of compensation in the fiscal year (whether they are subject to tax or exempt from income tax). The update sets the new amount at ARS 15,917,863.58.2

Why this matters

his update may change the filling requirements for those employees in Argentina whose annual gross income during 2023 was higher than ARS 15,917,863.58. Such individuals, therefore, will have to file a 2023 Informative Income and Wealth Tax Return.

More Details

The obligation to file an Informative Income and Wealth Tax Return applies for individuals whose only source of income is employment income subject to withholding at source and whose annual gross income exceeds the minimum set by AFIP.

The due date established for this type of filing is 30 June 2024.

KPMG Insights

Companies with globally-mobile employees who are paid via an Argentine payroll should consult with their usual tax service professional, or a member of the GMS tax team with KPMG in Argentina (see the Contacts section), about the population that would be required to file the informative tax returns in light of the new parameter concerning income, because this modifies the information that was initially required for the previous year.

Contacts

rodolfo-canese-mendez
Rodolfo Canese Mendez

Partner, International Corporate Tax & GMS

KPMG Argentina

cecilia-nunez
Cecilia Nunez

Partner

KPMG Argentina

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Footnotes

1 See (in Spanish) “ABC Consultas Frecuentes – ID 12766887” published on AFIP’s webpage.

2 See (in Spanish) "Declaración Jurada Informativa" on AFIP’s webpage.

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ARS 1 = EUR 0.00103

ARS 1 = USD 0.00112

ARS 1 = GBP 0.00087

ARS 1 = BRL 0.00577

Source: www.xe.com

Disclaimer

The information contained in this newsletter was submitted by the KPMG International member firm in Argentina.

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