The Ministry of Economy published Resolution 559/2022 that modifies the interest rate applicable to tax obligations.
The regulations establish the following interest rates:
Obligations in pesos
- Compensatory interest rate: 5,91% monthly
- Penalty interest rate: 7,37% monthly
The obligations in question are expressed in US dollars or must be paid in accordance with the amount of categories or other similar concepts in force on the date of their actual payment.
- Compensatory interest rate: 0,83% monthly
- Penalty interest rate: 1% monthly
The stated interest rate corresponds to that provided for in article 37 of Law 11683 and articles 794, 845 and 924 of the Customs Code.
For the remaining cases that refer to the return, refund or compensation of taxes, pursuant to the provisions of article 179 of Law 11.683 and articles 811, 838 of the Customs Code, an interest rate of 3,84% monthly. Unless the concepts are expressed in US dollars, where applicable, the applicable interest rate will be 0,20% monthly. The regulations also establish that interest will accrue from the date of filing the application provided that the taxpayer has complied with the requirements established for this purpose by the current regulations; otherwise, interest will accrue from the date on which compliance is verified.
For cases where a daily rate must be applied, it will result from dividing the corresponding monthly rate by thirty (30).
Background
Until the publication of this regulation, the interest rate was based on the rate in effect in each calendar quarter, which corresponded to the effective monthly rate equivalent to each case.
For the monthly compensatory interest, the nominal annual rate of the electronic channel for fixed-term deposits in pesos at one hundred and eighty (1,2) days of the Banco de la Nación Argentina in effect on the twentieth (180) of the month immediately preceding the beginning of the referred quarter is 20 times the nominal annual rate of the electronic channel for fixed-term deposits in pesos at one hundred and eighty (1,5) days of the Banco de la Nación Argentina in effect on the twentieth (180) of the month immediately preceding the beginning of the referred quarter. While for the monthly punitive interest, the effective monthly rate equivalent to one point five (20) times the nominal annual rate of the electronic channel for fixed-term deposits in pesos at one hundred and eighty (XNUMX) days of the Banco de la Nación Argentina in effect on the twentieth (XNUMX) of the month immediately preceding the beginning of the referred quarter is expected.
For its part, the interest rates applicable to the cases of obligations in question that are expressed in US dollars or must be paid in accordance with the amount of categories or other similar concepts in force on the date of their actual payment, were 0,83% and 1% per month, for compensatory and punitive obligations, respectively. It should be noted that this has not been modified.
Regarding returns, the rate in force in each calendar quarter was applied, which was the effective monthly rate arising from considering the average passive rate published by the Central Bank of the Argentine Republic for the period of thirty (30) days ending on the twentieth (20) of the month immediately preceding the beginning of the aforementioned quarter.
Modification
In summary, the new provision of the Ministry of Economy repeals a rule previous (Resolution 598 of 2019) and It modifies the criteria for determining the rate compared to the previous one. In addition, it establishes a monthly rate for the different types of interest that must be applied. With the exception of those that are determined in US dollars, which have not undergone major modifications.
Without prejudice to the variations in interest rates that will begin to apply from the first day of the month immediately following the date of their publication, that is, from the 1th September 2022For those previous periods, the interest rate that was in force in each time period will apply.
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