Regulation of Law No. 23.884.
Bs. As; 10/1/91
VISTO Law No. 23.884,
That this rule provides that donations made to National Universities and/or foundations whose specific purpose is to develop, promote, organize and/or stimulate academic activities may be used as payment on various taxes and import duties.
That in this way a system of financing of the Universities is instituted to raise the quality of teaching, research, technical and science of such houses of high studies.
It becomes necessary to issue appropriate regulations that allow, within the framework of the law, to preserve the fairness and justice of the tax system so that there are no deviations of any nature that devise the altruistic principles that the legislator took into account when sanctioning it.
Action is taken to use the emerging powers of article 86, paragraph 2, of the National Constitution.
THE PRESIDENT OF THE ARGENTINA NATION
Art. 1 The calculation of the payment on account of the donations referred to in article 1 of Act No. 23,884, shall be appropriate provided that the National Universities and Foundations beneficiary have been recognized as entities exempted by the Tax General Directorate and as long as the requirements of this Act are met.
Article 2°- The National Universities and Foundations will extend the necessary documentation where the details and date of the donation are recorded and will carry out the administrative and accounting records where the amount of the donation is clearly and accurately included, if the donation was in cash, and the description of the goods received when they were in kind. If the amount of the form specified in the following article is to be recorded, it may be charged in the fiscal periods in which the transfer of the domain is registered for the beneficiary entities.
Article 3.- The value of the market referred to in article 5 of the Act may not exceed the following values: (a) movable and immovable property, amortizable and non- amortizable and intangible property, except exchange property, to the value, arising from the rates made by the Bank of the City of Buenos Aires, by the National Mortgage Bank, by the National Development Bank or the Court of Taxation. The University or Fundación Beneficiia will apply to any of the above-mentioned entities, the valuation of the property or assets received as a donation. (b) In the case of exchange assets, the value of the actual cost incurred.
Article 4°- For the purpose of determining the percentages of 25 per cent, and the application of 50 per cent of that percentage in the Attached Value Tax, provided for in article 2 point II of the Act, donors should explain that circumstance in the heading observations of the respective form.
Article 5.- The details of the 25 per cent increase provided for in article 4 of the Act should be retained by the donor, together with the supporting documentation of the advance made in order to be verified by the collecting agency.
Article 6.- The companies referred to in article 49 (b) of the Law on the Tax on Gains shall charge the percentage of their donation to the payment of the Taxes on the Added Value, on assets and import duties. The calculation of payment on account in the Gain Tax will be made by the partners in their respective individual affidavits of the set of profits, in proportion to their corresponding participation in the results of the Society.
Article 7°- In the event of no use of the maximum permitted of 25 per cent of the donation in a fiscal period, the unutilized balance may be charged in the following fiscal periods, updated as provided for in article 3 of the Act, with the limitation established in article 2 point I of the same to its total extinction.
Article 8: The total or partial suspension of the account payment established by article 6 of the Act shall apply to donations made after the date of publication of the respective decree in the Official Gazette and shall not be effective for any donations that have fulfilled all the requirements required by the legal rules in force until the date mentioned.
Article 9°- The payment of the computed account in the Income Tax or in the Asset Tax shall be deducted from the amount of the tax corresponding to the previous fiscal period for the purpose of establishing the amount of the advances corresponding to the taxes mentioned, except for the fiscal period in which the final balance of the payment is charged.
Article 10.- Contact, post, give to the National Directorate of the Official Register and archvese. MENEM - Antonio E. Gonzalez.