The Federal Public Revenue Administration (AFIP) formalized the procedure for companies to access tax benefits provided for in the Knowledge Economy Law, through the General Resolution 4949/2021 published today (22.03.2021) in the Official Gazette.
The same arranged the procedure through which companies must register from the website of the body to adhere to the Knowledge Economy Promotion Regime.
The regulation established that the Federal Public Revenue Administration (AFIP) will verify, through systemic controls and prior to the issuance of the fiscal bond, compliance with the fiscal and social security obligations of the requesting firms.
It also established the guidelines for the exchange of information between AFIP and the competent authority of the Ministry of Productive Development.
Likewise, it established the manner in which beneficiaries from the Software Industry Promotion Regime will be able to keep the balances of the tax credit bonds not applied as of December 31, 2019 in force until they are exhausted.
The Knowledge Economy Law, passed in October 2020, aims to promote new technologies, generate added value, foster quality employment, facilitate the development of SMEs and increase exports of companies engaged in knowledge-based services.
The benefits of the law reward the creation of quality employment, promote exports and support a strategic sector for the country.
The promotion regime establishes, among the tax benefits, the possibility for companies in the sector to convert up to 70% of the employer contributions paid into a non-transferable tax credit bonus, a benefit that rises to 80% when it concerns new incorporations of women; transvestites, transsexuals and transgender people; or professionals with postgraduate studies in engineering; among others.
The regulations provide that these bonds may be used to pay other national taxes such as VAT.
Source: Telam
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