activate the option to claim 35%

After a long wait, the AFIP this week finally allowed employees in a dependent relationship to request the return 35% withholding due to the profits they received when they bought dollars.

The holdback also covers transactions made with a foreign currency credit card as of September 16, subscriptions to dollar services (such as Netflix and Spotify) and the purchase of tickets to travel abroad.

How to request a refund

With the reinforcement of stocks, to the 30% which already existed due to the PAIS tax, a withholding tax of 35% was added for gains on purchase save a dollar and make expenses with a foreign currency card. Until now, the option was only enabled for those who do not pay profits or personal assets to claim the refund, but it is now available for the rest.

To request a 35% refund, employees must enter the AFIP site with their tax code and go to the SIRADIG-Worker service. There they must go to point “4. Other deductions, deductions and down payments ”and choose the item“ Down payment – General resolution (AFIP) 4815/2020 ”.

Here you can choose between four options: purchase of banknotes and currencies in foreign currencies, earnings through the use of credit cards, purchase and debit of goods or services abroad, same as above but for payment from services provided by non-resident subjects, income from travel and tourism agencies, and income from passenger transport services to destinations outside the country.

In some cases the data will already be loaded, but others will need to be added manually. If there is no transaction loaded, the text will appear: “There are no earnings declared in your name for the purchase of banknotes and foreign currency for 2020. If you have the vouchers, you will have to load them manually. “

To do the manual loading, you must have the CUIT and the name of the company of the bank where the currencies were purchased and specify the operations month by month and the amount of each charge. This can be done in “add a charge”, where the name of the card, the date of payment of the summary and / or the date of payment or debit, and the amount of the hold must be declared.

After loading is complete, it is necessary to check that other income deductions have also been made, such as health expenses, mortgage payments and domestic workers charges, among others. If any are missing, they can also be loaded manually with the correct corresponding ones.

There will be time until March 31st to download the collections made last year. All these data will be taken into account by the employer during the annual payment for the 2020 financial year in April and that month the reimbursement will be received with the salary for that month. To follow up on the return request, you will need to enter the “My Web Applications” service.

Those who are not covered by Profits or Personal Patrimony, as well as holders of monotax, can carry out the procedure by going to the “My web applications” tab on the AFIP page, then “Reimbursement of income” and choose “Country Tax”. There you can see the deductions that the system has already loaded and load the missing ones. Once AFIP has corroborated the data, the refund will be made by bank transfer, without a stipulated delay.

Calm dollar

On the other hand, despite forecasts that the “exchange rate summer” will end in February, the calm that has set in since the beginning of December remains. On Friday, the blue dollar closed at $ 150, down $ 16 for the year, and financial dollars were flat. So far in February, the European dollar has fallen 0.5% and is trading at $ 147.20, while that of cash with cash only rose 0.7% to 151.5 $.

Among the causes of the calm exchange rates, analysts mention on the one hand that the seasonality of the end of the year and the summer generates a higher demand for pesos to pay premiums and vacations. They are also ensuring that the rise in soybeans, which remains above US $ 500, and the stability of the dollar caused exporters to sell off US $ 3 billion last month.

On the other hand, analysts say that the strengthening of equities in September further constrained demand for currencies, which was then deepened with measures by the Central Bank and the National Securities Commission (CNV) to work with it. financial dollars.

They also mention that the dollar purchases the Central Bank has made ($ 600 million in December, $ 200 million in January, and $ 400 million in February) have conveyed to the market the idea that the entity will continue to contain. the upward trend of the currency.

Another important factor for analysts in the calm of exchange rates is that at the beginning of the month negotiations with the International Monetary Fund (IMF) resumed, which was even permeable to the official goal of reaching a deal before May. . That the Minister of the Economy, Martín Guzmán, has ratified that an agreement will be sought in the medium term and that it will not be postponed after the elections would be a favorable sign for the stability of exchange rates.

Added to this are Guzmán’s statements that he will seek to achieve 25% inflation this year, four percentage points below that projected by the government: this would prompt savers to stop rushing to buy foreign currency for to cover.