Global Daily Tax News, Argentina Allowing Last-Minute Applications For Property Tax Scheme, (Oct 28, 2024)

Argentina's tax agency has extended the deadline for taxpayers to avail themselves of the Special Regime for Personal Property Tax (REIBP).

The REIBP is an optional initiative that enables taxpayers to settle their personal property for future years in a single lump sum, for all fiscal periods until December 31, 2027, based on current valuations.

In addition, taxpayers availing themselves of the regime are guaranteed taxation under current rules until 2038, and they are free from the standard obligations of having to make advance payments and file sworn statements, among other things, for the duration of the initiative.

The initiative was introduced in the tax reform law, Law 27,743, and is available also for assets declared under the Asset Regularization Regime of Law No. 27,743. General Resolution 5,544/2024 set out rules governing the initiative.

The tax agency has announced that an October 28, 2024, deadline applies for taxpayers to express interest in joining the regime, including making an initial payment, while an October 31, 2024, deadline applies for taxpayers to submit the REIBP sworn statement and settle the amount due.