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iProfesional had access to the full text that governs the changes in the income tax approved in the latest tax reform
iProfesional had exclusive access to the full text of the draft decree regulating the amendments of the Income Tax approved in latest tax reform.
then, the full text of the draft decree :
The subjects which are regulated are as follows:
– Transfer Pricing
– Low Taxation Countries or nul
] – Indirect Transfer of Property in the Country
– Profit from Permanent Establishment in the Country
– Sale of Equity and Other Financial Instruments
– Dividends
– Sale of real estate
– Digital Coins
– Deduction of Interest (Thin Capitalization)
– Imputation of Profit and Expense
– Specific Losses
– Exemptions ( financial income and foundations)
– Inter eses presuntos
– Personal Deductions
– New Professionals and New Entrepreneurs
– Hierarchical Compensation
– Disposition of Funds and Funds ;active s in favor of third parties
– Sale and replacement
– Electronic machinery and games of chance
– Amendments Civil and Commercial Code
Details of the standard
Concerning digital currencies, the decree establishes that includes numeric representation of value which may be numerically negotiated and the functions of which shall constitute a means of exchange, and / or a unit of account and / or a reserve of but not legal, and not issued or guaranteed by any country or jurisdiction. "
On the other hand, " goods with quote " will be considered as the physical products that own or adopt publicly traded and notorious knowledge prices traded on transparent markets, purses or similar, national or international (including also available prices or indices recognized and published by statistical or rating agencies, public or private, among others), where such prices or indices are usually used as a reference point for independent parties for fixing the prices of international trade in goods traded on the Argentine market.
Similarly, it must be understood as of the good the publication or mention of the term or the closing of the day of the corresponding transaction or, in the event of existence, at the rank between the minimum and maximum values published or referred to on the day of the transaction and / or on the dates to which the contractual formula of price determination refers, provided that they are used between ind ependientes operating under similar conditions
In all cases, taxpayers must document the mechanism of formation transfer pricing, including the formulas for determining them, for purposes of: distinguishing the different concepts that make up the price of the good
Meanwhile, the tax loss incurred in the course of a year can be deducted from the net tax gain obtained the following year for which human persons and undivided estates will compensate first with the net gains of the second category and successively with those of the first, third and fourth categories.
If there is still a balance, it will be the same in the same way. immediately after exercise, up to and including the fifth year after the one in which the loss occurred. "
It is also specified that the activities and institutions of microcredit defined in the Law 26.117 on the promotion of microcredit for the development of the social economy and badociations, foundations and civil entities, financed in full or in part by programs of the National Public Administration or the international, multilateral, bilateral or regional credit agencies, grant loans to people of modest resources, to badociations of badociations of the 39 Social economy and / or cooperatives the preceding paragraph should be badigned to the meeting related needs with productive, commercial and service activities, as well as training and funding for improvement of individual and family housing ".
It is also clarified that the exemption applies to profits from profit sharing – except that taxable dividends are included – or the redemption of shares to the extent that, out of the total investments of a mutual fund at a minimum, 75% consists of shares, securities representing shares and certificates of deposit of 39, actions that meet the requirements. In the opposite case, the surplus value will be subject to tax treatment in accordance with the currency and the adjustment clause in which the quota was issued.
The target percentage will not be considered as achieved. the preceding paragraph if there was a change in the composition of the goods which decreased them to less than 75% during a continuous or discontinuous period of at least days in a calendar year in which case the shares of the OPC will be taxed
Overtime
The overtime exemption includes the difference between the hours value and that of ordinary hours received for services rendered on public holidays, weekends and weekends and non-working days and / or weekly rest periods, determined and calculated according to the applicable collective labor agreement or, failing that, as established in the Labor Contract Act.
Overtime hours, excluding hours of exemption, are not calculated to modify the section of the scale of the first paragraph of section 90 Nevertheless, the examination of this amount will not give rise to the taxpayer is outside the above – mentioned scale
Compensations
With respect to As regards compensation, it is established that the monetary limit after which it begins to be imposed is 20 times the minimum wage, vital and movable in force on the date of the separation, and it is not applicable. applies to " executives and leaders of public and private enterprises" that during the [12909008] last 12 months exercised continuously or discontinuously in " directories, boards of directors"; administration, boards of directors, executive or management commissions similar legal persons, or management positions that involve the decision-making or implementation of the policies and guidelines adopted by the aforementioned shareholders, partners or bodies. "
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