Maturities of concern to taxpayers in quarantine

The economic stop due to the coronavirus health emergency changed the axis of concern for taxpayers. Tax maturities, both the usual and the extraordinary, passed into the background and the priority is how the salaries of the employees are to be paid.

“Beyond the isolation, I have merchant clients who are not in the areas of emergency (linked to entertainment, transport or tourism), who did not sell anything. No one thought to buy clothes at that time ”, exemplifies Esteban Fada, from the Fada Contadores Públicos studio.

Mary Acosta, an economist and independent accountant with several small clients, agrees and comments that many professionals, such as psychologists, dentists, or kinesiologists, have not worked for several days and do not invoice. “For many SMEs, the moratorium has gone into the background,” he says, acknowledging that their own income will be affected.

“Not all companies can work remotely because they do not have the systems in place. Some that cannot invoice and, if they do not invoice, do not charge nor can they pay their dependents ”, points out Javier Martínez, from the Luis Fadda y Asociados study.

Dina Castillo, head of Castillo y Asociados, adds: “SMEs and self-employed workers are very complicated because if they don’t work, they don’t get paid. In the companies, many analyze to be paying advances of salary until it reaches. With taxes, everyone will do what they can. ”

Ongoing obligations

“I am convinced that the Afip is not going to make any extension yet, because it needs collection and will expect that the companies that can pay do so. Then, probably, there will be some special plan, “says Castillo.

The tax term refers to the usual maturities that are in progress. On Friday the 20th the Monotributo monthly fee expired. For this sector there is an aid of 10,000 pesos in the two lowest categories, but the monthly payment was not touched. In the first days of April, it is the turn of the self-employed and they also have expectations.

In addition, since 18 the monthly VAT income expired. “People were worried about how to pay, where they were going to get the money from. Many do not have problems today, but they were analyzing if it was convenient for them to save the money to pay the salaries, ”says Marcelo Almendros, a taxpayer from the Industrial Union of Córdoba (UIC).

Meanwhile, the broad moratorium for SMEs of up to 120 installments continues, with interest forgiveness until April 30, but until March 31 the conditions are more beneficial.

The general demand is that the term be extended because most of the taxpayers are not thinking about this and the income requires an initial disbursement as payment on account.

A recurring request is for the moratorium to be extended to larger companies, which can also be complicated. In addition, that they allow themselves to incorporate more recent debts, since the regime only accepts obligations due in November 2019.

“You can enter the moratorium owing subsequent periods, but if a taxpayer did not pay in recent months, it is difficult to recover later,” Fada reasons. For Castillo, the companies that are indebted should enter the moratorium for their benefits. “If it is not now with 120 installments, it will be in April with 90; but it is an opportunity ”, he says.

Laboral obligations

Another issue of general concern is the payment of labor charges, which expire in the second week of April. The Ministry of Labor excepted the sectors most affected by the first closure (before total isolation since Friday 20), such as hotels, tourism, gastronomy, and entertainment. And the activities linked to health were added.

However, other items that did not close, but also do not sell, do not invoice. For the moment, what was resolved is that employees who do not work (neither in essential activities nor remotely) are charged as “non-remunerative”, with less social security payments.

“Some specific measure on contributions is being requested. If there is no reduction or remission, at least an extension of the terms, “says Almendros.

Martínez warns about some companies that are thinking about not entering the treasury the money from the retentions they make to third parties under different regimes. “This is very serious, because it can generate very strong sanctions,” he remarks.

Personal property

March 31 also expires the term to repatriate assets from abroad and avoid the aggravated rate of Personal Assets. For taxpayers it is very likely that this period will be extended for operational reasons and because there will be little adherence.

“He who today has investments abroad, to repatriate them, has to sell. Most have collapsed in value and, if they sell today, they reflect a very large loss that could be cut when the blow passes. This is not a good time to sell, much less to repatriate ”, considers Fada.