this is the new AFIP deadline

The Federal Administration of Public Revenue (AFIP) extended until June 30 the deadline for monotributistas and freelancers they can process the zero rate credits.

About 500 thousand people have already started the procedure on the AFIP website to access the measure provided for in the Emergency Program for Work and Production Assistance, according to the agency.

The AFIP did not indicate whether this financial aid, orchestrated so that taxpayers and companies face the economic disadvantages caused by the pandemic, will be extended in the coming months.

The agency indicated that the extension of the terms “seeks to guarantee the effective processing of approximately one million credits that are still available to all taxpayers who meet the eligibility criteria,” to access the credit.

How to access zero rate credits

From the Ministry of Productive Development of the NationThey gave new details regarding how the zero rate credit should be managed for monotributistas and self-employed workers.

First of all, the CUIT should be loaded on the AFIP page. The body in charge of Mercedes Marcó del Pont will verify the economic parameters of the interested party.

If the answer is affirmative, the Uniform Bank Code (CBU) of the interested party must be reported.

With the approval of the AFIP, the bank will be given the green light. Then, the client must contact the financial institution to activate the credit.

Conditions to receive the credit:

• The amount of the credit cannot exceed 25% of the annual billing, with a limit of $ 150.0000
• You cannot have income as an employee in a dependency relationship.
• There will be information crossing with the bank savings and wealth data.
• You will not be able to buy dollars (blank).

Important: latest regulations on zero rate loans

When the monotributistas they take the Zero Rate Credit, the equivalent of 3 installments of the tax and pension component of their share of the Monotax.

In the case of self-employed workers, 3 quotas are added to the mandatory contributions they must make.

The regulation was announced through general resolution 4708 published this Monday in the Official Gazette.

Sebastián M. Domínguez, Partner of SDC Asesores Tributarios, detailed the central guidelines of the new regulation.

The Bank that grants the Zero Rate Credit you must retain those amounts and deposit the money with the Treasury through an electronic payment flyer (VEP).

Given the credits can be requested until 6/30, these amounts that are added to the credit may not coincide with those that the monotributista or self-employed worker is obliged to pay.

For example:

• The monotributistas to change categories when recategorizing in July 2020, They will modify the value to pay from August 2020.
• Self-employed workers who change categories when re-registering in May 2020, will modify the value to be paid as of the accrued period June 2020.

The amount of the pension contributions of self-employed workers will change in the period accrued June 2020 as a result of the adjustment of the pension mobility.

On the other hand, it was not defined to which periods the payments made by the Banks should be charged.

The AFIP, through General Resolution 4708, comes to respond to these situations.

Defines the periods to which the payments of the tax and social security components must be attributed of the fees of the Monotax and of the pension contributions of self-employed workers:

• Monotributistas: Fiscal periods corresponding to the months of June, July and August 2020.
• Self-employed: Accrued periods corresponding to the months of May, June and July 2020.

Control by monotributistas and self-employed workers

The resolution establishes that they can verify the correct imputation of them in the Service “” CCMA – Current Account of Monotributistas and Autónomos “which is accessed with a fiscal code.

Although this would not be necessary to indicate it because that service has been enabled for many years, it is good to remember it so that monotributistas and self-employed workers use it for the purposes of performing this verification.

Differences due to changes in the Monotax categories

By category changes can occur differences to pay or in favor of taxpayers.

• Difference to pay: Taxpayers must enter the differences that occur through electronic funds transfer.
• Differences in favor: Taxpayers may reimpute differences to quotas from other periods.

It is important that monotributistas and self-employed workers control the imputation of payments and detect these differences.

If they are to be paid, in case of not canceling them, compensatory interests will be generated.

If they are in favor, if they are not used to cancel other periods, they will have that immobilized money that will liquefy with inflation.

Finally, we find it very important to remember that all monotributistas and self-employed who are attached to the automatic debit for the cancellation of their obligations as such must process the “stop debit”.

This process is done as traditionally it should be done, through the Bank or credit card, as appropriate.

In case of not making the “stop debit”, each obligation will be paid in duplicate.

Although the money is not lost because it can be attributed to other periods, in this economic situation, it is essential to avoid this type of duplicate payments.

How many zero rate credits have already been awarded

More than 220 thousand monotributistas and self-employed and some 125 thousand companies accessed during the quarantine more than $ 250,000 million in loans at subsidized rate, as part of the assistance measures promoted by the Government due to the economic crisis caused by the coronavirus pandemic (Covid-19), the Central Bank (BCRA) reported today.

Specifically, 124,999 were the micro, small and medium-sized enterprises (MSMEs) that accessed the loans with a 24% annual rate of $ 222,360.9 million, of which $ 203,557.5 million had already been disbursed and there are other $ 12,328.4 millions in process.

Of the total credits, 41% was used for the payment of salaries, 40% for access to working capital and, for coverage of deferred payment checks, 18%.

In the case of zero-rate loans for monotributistas and self-employed, 221,670 loans were managed for a total of $ 28,301.6 million, of which a total of $ 9,115.4 million has already been disbursed and the first of the three installments of the monotributo incorporated into the loan that is retained and automatically integrates the credit.

Additionally, the BCRA reported that banks issued 62,840 new credit cards for the release of these credits.

The monotributistas and self-employed who meet the requirements established by the Government may request the credit until June 30 on the website of the AFIP, where they must enter the tab “Zero Rate Credit”.

There they must complete the amount of the loan that they want to request, the Uniform Bank Code (CBU) and the credit card number associated with the same bank of the account that is being reported.

Once this process is completed, the chosen bank will have 48 business hours to proceed to accredit the financing, which will be up to $ 150,000 for categories D and up, up to $ 104,370 for category C, up to $ 78,277 for category B and up to $ 52,184 for category A of Monotributo.

Those who access the credit must use it through the credit card and cannot withdraw it in cash through ATMs, nor can they buy dollars or carry out operations in the stock market.

AFIP will not terminate monotributistas

The Federal Administration of Public Income (Afip) made official this Thursday the decision that no monotributista will be officially withdrawn from the regime for non-payment of their obligations in May.

This was done through the publication in the Official Gazette of General Resolution 4724/2020.

There, the extension to the month of May of the decision adopted last March, when the social, preventive and compulsory isolation due to the coronavirus began.

The current regulations establish that a taxpayer is withdrawn when he does not pay ten consecutive installments.

However, in the current context of a pandemic, the Afip resolved that April, and now May, will not be computed for the purposes of accounting for the period necessary for the application of automatic cancellations.

There are different situations provided for in the law that generate automatic withdrawal from the regime: the most widespread is when the sum of the taxpayer’s gross income exceeds the maximum established by the maximum category available.

The Afip defined that these systemic crossings will not be used in May to proceed with ex-officio exclusions either.

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