The federal administrator of Public Revenue, Leandro Cuccioli, reported this Thursday (28.6.2018) that since the implementation of the “M” invoice, the evasion of VAT generated by false invoicing has been reduced. Now 1.724 companies invoiced a total of $500 million in one quarter when previously operations for $27.000 billion had been detected in the same period.
Of the companies analysed, 87% stopped invoicing. “Fake invoicing is the main means of evasion in our country,” the official assessed, according to the entity’s statement.
La Invoice M implies a full VAT withholding by the buyer.
These actions are part of one of the strategic axes of the AFIP regarding the fight against tax evasion.
Cuccioli's presentation was made at the Commission for Analysis and Monitoring of Tax and Social Security Regulations of the Chamber of Deputies.
Regarding sectoral actions, the federal administrator highlighted the formalization actions in the meat sector which allowed the evasion rate to be reduced from 70% to 30%.
Payment by electronic means
In his presentation, the head of the AFIP referred to the POS terminal installation"In May alone, 65.000 new units were registered. In total, there are 1.145.000 units across the country," he said.
The data reflect a Growth in the use of debit cards and electronic wallets as means of payment.
Regarding the refund of 15% VAT to retirees and pensioners, in the first five months of the year, there were: 1.374.138 for a total amount of $727 million.
Collection and payment plans
Regarding the 2018 tax collection index, the federal administrator noted that during the first five months of the year, tax collection rose 28,1% and 36,5% without taking into account the effect of Tax Amnesty.
Regarding the new financial mechanisms aimed at lifting embargoes and debts, he stressed that the new payment plans in force take into account, for the first time, the taxpayer risk level.
In this regard, the federal administrator noted that They will review the general conditions of these plans "If in the coming months the general economic situation warrants reviewing current plans."
He also stressed the increase in the number of payment installments for taxpayers belonging to areas declared in emergency.
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