On Sep. 30, ARG GVT extended the dealines for the Regimes stages.
ARG GVT published Decree 864/2024 to extend dates set in the Asset Regularization Regime in Title II of Law 27.743 regarding Palliative and Relevant Fiscal Measures.
Background
Title II of Law 27.743 established an Asset Regularization System to which natural persons, undivided estates, subjects of Art. 53 of the Income Tax Law, may adhere.
Article 23 established the division of the Regime into 3 stages, contemplating the period to declare the adhesion, obligatory advance payment, affidavit presentation.
As well as the payment of the special regularization tax and the applicable rate.
National Executive Branch is authorized to extend dates of stages until Jul. 31, 2025.
Article 5 of Decree 608/24 contemplated that deadlines must be considered to ensure that between each of dates there is a difference that may not be less than 3 months.
To allow more interested parties to join, it is necessary to make an extension to declare adherence and mandatory advance payment of Stage 1 until Oct. 31, 2024.
Pursuant to Article 5, it is also appropriate to arrange for an extension to make the declaration of adherence and the mandatory advance payment of Stages 2 and 3.
Chapter V, Special cases of exclusion of tax base and payment of the Special Regularization Tax of Title II of Law 27.743, established special regularization regime.
Funds referred to in Art. 31, 32, and 33 may be conducted until deadline of Stage 1.
Highlights
It is necessary to clarify the application of Chapter V to extend the deadline for the declaration of adhesion and the mandatory advance payment of the Regime stages.
The regulation has established that cash may be regularized between Oct. 1 and Oct. 31, 2024, whether or not funds have been regularized by September 30, 2024.
Also specified that those who withdraw (partially or totally) money from Oct. 1, 2024, per regulations, may not regularize additional amounts from the withdrawal date.
Funds regularized during extension must remain deposited in the special accounts or assigned to destinations and investments authorized by legal regulation until Oct. 31.
As of Nov. 1, 2024, if total funds are up to US$ 100,000, they may be withdrawn.
If total amount is greater than US$ 100,000, they must be in special accounts or allocated to destinations, investments authorized by regulation, until Dec. 31, 2025.
Funds that were regularized by Sep. 30, 2024, may be withdrawn as of Oct. 1, 2024.
If total funds are up to US$ 100,000, withdrawal will not be subject to any withholding.
If total amount is greater than US$ 100,000, funds must be kept in special accounts or assigned to destinations, investments authorized by regulation, until Dec. 31, 2025.
Effectiveness
Decree 864/2024 in force on day of official publication; takes effect as of Oct. 1, 2024.
Oct. 1, 2024 ARG Tax Extension
On Oct. 1, 2024, ARG Tax reported the extension of the Asset Regularization Regime.
New deadlines for membership, payments and submission of corresponding affidavits.
Regulated extension for 1 month of adhesion of first stage, through Decree 864/2024.
Consequently, interested parties will be able to confirm adhesion until Oct. 31, 2024.
