Advanced Payment of Pais Tax on Imports Repealed
The Tax Authority repealed the regulations that had established an advanced payment of the PAIS Tax when declaring imports of goods.
By means of General Resolution 5604/2024, the Argentine Tax Authority (ARCA) repealed Title II of AFIP General Resolution 5393 and AFIP General Resolutions 5464 and 5559. Consequently, imports declared from now on are released from the advanced payment of the PAIS Tax, which was equal to 95% of the full tax rate.
However, when accessing the FX market to pay for such imports, financial entities will still collect the PAIS tax until December 22, 2024.
The administration has not yet published regulations related to the use of outstanding credit balances taxpayers have in relation to this tax.
This insight is a brief comment on legal news in Argentina; it does not purport to be an exhaustive analysis or to provide legal advice.