SOLIDARY AND EXTRAORDINARY APORT TO HELP THE EFFECTS OF PANDEMIA Law 27605 Provisions. The Senate and Chamber of Deputies of the Argentine Nation assembled in Congress, etc. sanction with force
Law:
SOLIDARY AND EXTRAORDINARY APORT TO HELP THE EFFECTS OF PANDEMIA
Solidarity, extraordinary and for the only time linked to the heritage of human persons
Article 1.- Consider, as an emergency and for the only time, an extraordinary, obligatory contribution, which shall rest on the persons referred to in Article 2 according to their existing assets at the date of entry into force of this law, determined in accordance with the provisions of this Law.
Article 2°- They are reached by the present contribution:
(a) Human persons and indivisous successions residing in the country, for the entirety of their property in the country and abroad, understood and assessed in accordance with the terms set out in Title VI of Law 23.966, of personal property tax, text ordered in 1997 and its modifications, regardless of the treatment they review against that taxation and without deduction of a minimum not taxable, at the date of entry into force.
Likewise, those humans of Argentine nationality whose domicile or residence is in “non-cooperative jurisdictions” or “jurisdictions of low or no taxation”, in the terms of articles 19 and 20 of the Law of Tax on Gains, a text ordered in 2019 and its modifications, respectively, will be considered resident for the purposes of this contribution;
(b) Human persons and indivisous successions residing abroad, except those referred to in the second paragraph of the preceding paragraph, for the entirety of their property in the country covered and valued in accordance with the terms set out in Title VI of Law 23.966, ordained text in 1997 and its modifications, regardless of the treatment they review against this tax and without deduction of a minimum not taxable, at the date of entry into force of this law.
The persons mentioned in Article 2 are exempt from this contribution when the value of all of their goods does not exceed 200 million pesos ($ 200,000,000), including. When the above figure is exceeded, it shall be reached by the contribution of the totality of the goods, which must be entered in accordance with the provisions of articles 4 and 5°.
The subject of the contribution shall be governed by the criteria of residence in the terms and conditions set out in articles 116 to 123, both inclusive, of the Law on Tax on Gains, ordained text in 2019 and its amendments, as at 31 December 2019.
In their case, human persons residing in the country, single-person exploitations located in the country or the successions there that have the condominium, possession, use, enjoyment, provision, possession, custody, administration or custody of goods subject to the contribution, which belong to the subjects mentioned in the second paragraph of subparagraph (a) or in subparagraph (b), both of this article, shall act as substitutes for the contribution, according to the public authorities.
Article 3.- For individuals under Article 2(a) of this Law, the determination basis therein shall be calculated including contributions to trusts, trusts or foundations of private interest and other similar structures, participation in companies or other entities of any type without tax personality and direct or indirect participation in societies or other entities of any kind, existing at the date of entry into force of this Act.
Article 4°- The contribution to be entered by the taxpayers specified in Article 2 of this Law shall be the one that results from applying, on the total value of the goods — except those that are subject to the liquor of the table of the following article — the scale is as follows:
Total value of assets | Pay | More the | Over $ |
more than $ | to $ |
$0 | $300,000 even | $ | 2.00% | $ |
$300,000.000 | $400,000 even | $6,000.000 | 2.25 per cent | $300,000.000 |
$400,000.000 | $600,000 inclusive | $8,250,000 | 2.50% | $400,000.000 |
$600,000.000 | $800,000 even | $13,250,000 | 2.75 per cent | $600,000.000 |
$800,000.000 | $1,500,000 inclusive | $18,750,000 | 3.00% | $800,000.000 |
$1,500,000.000 | $3,000.000 inclusive | $39.750.000 | 3.25% | $1,500,000.000 |
$3,000.000.000 | forward | $88,500.000 | 3.50% | $3,000.000.000 |
Article 5.- For property located abroad, in the event that repatriation is not verified in the terms of the following article, the contribution to entry should be calculated according to the table below:
Total value of national and foreign property | For the total of the goods located abroad, they will pay |
more than $ | to $ |
$200,000.000 | $300,000 even | 3.00% |
$300,000.000 | $400,000 even | 3.375% |
$400,000.000 | $600,000 inclusive | 3.75% |
$600,000.000 | $800,000 even | 4.125% |
$800,000.000 | $1,500,000 inclusive | 4.50% |
$1,500,000.000 | $3,000.000 inclusive | 4.875% |
$3,000.000.000 | forward | 5.25% |
Article 6°- Repatriation shall mean, for the purposes of the previous article, the entry into the country, within sixty (60) days, including, since the entry into force of this law, of: (i) foreign currency holdings abroad, and (ii) the amounts generated as a result of the realization of financial assets abroad, which represent at least thirty per cent (30 per cent) of the total value of such assets. The national executive branch may extend the period in another sixty (60) days.
Once the repatriation has been effected, the funds shall remain, until 31 December 2021, deposited in an account open to the name of their holder in entities covered by the law 21.526 and their modifications, or affected, after such deposit, to any of the destinations established by the national executive branch.
To that end, they are considered as external financial assets, those mentioned in the third paragraph of Article 25 of Title VI of Law 23.966, of personal property tax, ordained text in 1997 and its amendments.
Article 7°- Proceedings from the contributions set out in Article 1 shall be applied:
1. Twenty percent (20%) to purchase and/or develop medical equipment, protection elements, medicines, vaccines and all other critical inputs for health prevention and care.
2. Twenty per cent (20%) of subsidies to micro, small and medium-sized enterprises under article 2 of Law 24,467 and its amendments and complementary standards, with the main objective of sustaining the employment and remuneration of their workers.
3. Twenty percent (20%) for the comprehensive Fellowship Programme Progress, managed within the Ministry of Education, that will strengthen this program that accompanies students with an economic incentive and an important personal stimulus at all levels of education during their educational and/or academic career.
4. Fifteen percent (15%) for the Urban Social Integration Fund (FISU), created by Decree 819/19 in the framework of Law 27.453, focused on improving the health and living conditions of the inhabitants of the popular neighborhoods.
5. Twenty-five per cent (25%) to programs and projects approved by the Ministry of Energy of the Nation, exploration, development and production of natural gas, activity that results from national public interest, through the Argentine Energy Integration S.A., which will make these projects viable by proposing and agreeing with YPF S.A., exclusively, the different modalities of implementation of the projects. It is established that Energy Integration Argentina S.A. must reinvest the profits from the aforementioned projects, in new natural gas projects for a period not less than ten (10) years after the beginning of the present regime.
Article 8°- The national executive branch shall make a federal application of the funds collected by the contribution of Article 1 and the destination set out in Items 1, 2, 3 and 4 of Article 7.
Article 9. - The application, perception and control of the present contribution shall be carried out by the Federal Public Income Administration, resulting in the supplementary application of the provisions of Act No. 11,683, ordained text in 1998 and its amendments, and the Tax Penal Regime of Title IX of Law 27,430 and its amendments.
It also empowers the Federal Public Income Administration to dictate the complementary rules for the determination of deadlines, forms of income, presentation of affidavits and other aspects related to the collection of this contribution.
When the variations in the goods subject to the contribution, during the one hundred and eighty (180) immediate days prior to the date of entry into force of this law, presume, except evidence to the contrary, an operation that configures an evasive ardid or is intended to circumvent its payment, the Federal Public Income Administration may provide that those are computed for the purposes of its determination.
Article 10.- This law will begin to govern the day of its publication in the Official Gazette of the Argentine Republic.
Article 11. Contact the national executive branch.
IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE FOUR DAYS OF THE YEAR TWO MIL VEINTE.
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CLAUDIA LEDESMA ABDALA DE ZAMORA - SERGIO MASSA - Marcelo Jorge Fuentes - Eduardo Cergnul
e. 18/12/2020 N° 65234/20 v. 18/12/2020