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Tax Multiples - Full Text Of The Norm

Original Language Title: IMPUESTOS PRORROGAS VARIAS - Texto completo de la norma

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image inicio sitio infoleg MInisterio de Justicia y Derechos Humanos
IMPESTS Act No. 25.988 Protract until 31 December 2005 the suspension of the waiver established in Article 20, paragraph I, of the Law on Taxation of Gains, the validity of the tax established by Law No. 24.625 on the final price of sale of cigarettes and the validity of articles 1 to 6 of Law No. 25.413 and its amendments. In addition, the suspension of the incorporated article is extended to date following article 24 of the Law on Attached Value Tax, a text ordered in 1997 and its amendments. Sanctioned: December 16, 2004. Promulgated: December 29, 2004.

The Senate and Chamber of Deputies of the Argentine Nation gathered in Congress, etc. They sanction with force of law:

PART I

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ARTICLE 1 Protract until 31 December 2005, including the suspension of the exemption provided for in Article 20, paragraph I, of the Law on Taxation of Gains, which was ordained in 1997 and its amendments, as provided for in Article 1 of Law 25,731.

PART II

ADDITIONAL IMPEST OF EMERGENCY ON THE FINAL PRINCIPLE OF CIGARRILLES

ARTICLE 2 Protract the validity of the tax established by Act No. 24,625, of additional emergency tax on the final sale price of cigarettes and their modifications, until 31 December 2005, inclusive.

PART III

AND OTHER OPERATORS

ARTICLE 3 Protract until 31 December 2005 the validity of articles 1 to 6 of Law 25,413 and its amendments.

PART IV

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ARTICLE 4 Protract until 31 December 2005, including the suspension of the incorporated article without a number following article 24 of the Aggregate Value Tax Act, which was ordered in 1997 and its amendments, which were provided for in article 1 (a) of Law 25.717. ARTICLE 5° Tax credits originating in the purchase, construction, manufacture, processing or final import of capital goods, made from 1 November 2000, inclusive, that as of 30 September 2004 shall constitute the balance in favour of those responsible, referred to in the first paragraph of article 24 of the Law on Taxation of the Attached Value, ordained text in 1997 and its modifications, shall be credited against other taxes, including their advances, in charge of the Public Economy The national executive branch shall establish the procedure and conditions to be observed for access to the above accreditation and/or return, among which it shall be considered as an essential factor for the applicant to make new investments, without prejudice to the rules which the tax collector deems appropriate.

The regime established in the preceding paragraph shall not apply when, at the time of the application for accreditation or return, as appropriate, capital assets do not integrate the assets of taxpayers.

Capital assets covered by the present regime are those that are of the quality of movable or immovable property, amortizable for the tax on profits.

The accreditation provided for in this article may not be made against obligations arising from the substitute or solidarity liability of third-party debt contributors, or their performance as retention or perception agents. Nor will the reference to tax credits be applicable solely for the financing of funds with specific impact.

Where capital assets have been acquired in the terms and conditions set out in Act No. 25,248, tax credits for the canons and the purchase option, they may only be computed for the purposes of this regime when the above-mentioned option has been exercised as at 30 September 2004, the calculation of the tax credit for the same is authorized.

For the purposes of this article, the value-added tax on the purchase, construction, manufacture, processing or definitive importation of capital goods shall be charged against tax debits once the remaining tax credits related to the encumbered activity have been computed.

Accreditations or returns provided for in this article may not be carried out when such tax credits have been financed by the regime established by Law 24.402.

ARTICLE 6 For the purposes of the regime set out in the previous article, an annual tax quota for the accreditation and return provided for in the same period shall amount to five hundred million pesos ($ 500,000), which shall be assigned in accordance with the mechanism established by the national executive branch, taking into account objective criteria which, among other parameters, shall contemplate the age of credit.

Such quotas should be allocated up to 50% to small and medium-sized enterprises.

The national executive branch shall report quarterly to the Budget and Finance Commissions of both Houses of the National Congress on the distribution of the quota established in this article.

PART V

VIGENCE

ARTICLE 7 The provisions of this Act shall enter into force on the day of its publication in the Official Gazette and shall have effects:

(a) For the provisions of Title I .Imposed to Wins:: regarding export applications for consumption that are registered in the General Directorate of Customs of the Federal Public Income Administration, an autonomous entity within the Ministry of Economy and Production, from 1 January 2005, inclusive.

(b) For what is established in Title II AdicionalAdditional Tax on the Final Sale Price of Cigarettes:: for the imponible facts that are perfected from 1 January 2005, inclusive.

(c) For the provisions of Title III . Tax on Credits and Debits in Banking Accounts and Other Operators:: for the imponible facts that are perfected from 1 January 2005, inclusive.

(d) For the provisions of Article 4 of Title IV .Added Value Tax:: for tax credits whose right to compute is generated from 1 January 2005, inclusive.

(e) For the provisions of Articles 5° and 6° of Title IV .Added Value Tax:: in respect of the tax credits whose right to compute has been generated until 30 September 2004, inclusive, and correspond to investments in movable or immovable property that review to that date the quality of amortizable for the tax on profits.

ARTICLE 8 Contact the Executive.

IN THE SESSION OF THE ARGENTINE CONGRESS, IN GOOD AIRES, TO THE DIASS OF THE MONTH DECEMBER OF THE YEAR DOS MIL CUATRO.

# 25,988

EDUARDO O. CHANGE. A. GUINLE. . Eduardo D. Rollano. . Juan Estrada.

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Act No. 25,988

In the 31/12/2004 edition, where the aforementioned Law was published, the following error of printing was slipped:

Article 1

DONDE DICE: Article 20 (1) I should say: Article 20, paragraph I,