Reviews the legal means available to companies to pay less taxes, in particular VAT and profits
The process of inflation puts a sharp check on spending and one fundamental thing should not be neglected: taxes. There are mechanisms to reduce the tax burdenThat’s why it is important to know them.
What are the 9 mechanisms of reducing profits?
The two main taxes faced by companies are VAT and VAT., Accountant Gustavo Polisella, owner of Home Study, lists for iProUP Tools that can be used for legal tax planning.
1. Sale and Replacement
Option to reduce earnings using figure of sale and replacement when disposing of movable or immovable propertyUltimately resulting in lower amount of income tax to be paid in the year of settlement.
In these cases the profit from sale is realized by allocating it to the tax balance., Thus, the taxpayer benefits allocating that difference to the cost of the new good, This will go ahead when both the operations (sale and replacement) are done within a period of one year.
2. Withholding and/or Exclusion of Assumptions
to achieve speedy collection of taxesAFIP enforced rule Withholding, Retention and/or Collection applicable when carrying out sale, purchase, payment and/or collection operations.
If, by reason of the application of these rules, accumulation of balance in favor of the taxpayerThese can be used, in general, to cancel other obligations or An unexpected financial cost will arise, so you can also request boycott the future of high stop.
However, “the recent RG 5339, which suspended VAT refunds to importers, is further evidence that AFIP creating new ‘taxes’ through resolutions to increase, at least temporarily, tax collection”, warned iProUP Francisco Blanco from Brons & Salas Studio.
3. Reduction in Advances
As is the case with stoppages and assumptions, it may sometimes happen that the advance that the taxpayer must pay in excess of the amount of the lien Avoid being taxed and causing financial loss.
via RG 5211, AFIP established the possibility of requesting the reduction of advances When responsible for paying them assumes that the amount to be paid will exceed the final amount A liability for the fiscal period to which that amount is to be attributed.
As reported by AFIP to iProUP“As a result of stronger oversight before benefits are granted, Request for Advance of Income Tax The number of legal entities was reduced by 40% for the year 2022 and decreased by more than 60% among humans,
AFIP states, “These controls ensured the collection of $32.700 million. Together with the advances, this income would have reached the public treasury a year later, in time for inflation.”
4. Quick Amortization
There are plans that allow deduct from income tax the amount in excess of the amount provided in the tax law for amortization of fixed assetsDue to which the tax burden is reduced.
5. Tax loss
In some cases it may happen that the assessment of income-tax shows Tax loss, deductible in subsequent five years If they cannot be absorbed with the taxable income from the same period.
Experts suggest good accounting planning so as not to pay more taxes
“This fact should be taken into account in tax planning and Calculate the time limit so that the prescription does not harm of tax loss in question”, commented Polisila.
6. Fixed assets acquired after January 1, 2018
in liquidation of earning is allowed Deduction of depreciation of fixed assets affected by the activity, But, as of 1/1/18, the cost of such assets and, therefore, their amortization must be updated.
“If this condition is not taken into account, the taxpayer is at a loss: he will to deduct less than the amount permitted by lawresulting in paying higher taxes”, says Polisila.
7. Tax credit from bilateral agreements
taxpayers can Count the amount of the conforming lien as a credit in your tax settlement. (for rent) really paid in countries where profits were earned From a foreign source, to a certain extent.
8. Deferral of tax inflation adjustment
taxpayers who determine a Positive Inflation Adjustment (Benefit) Can be included in the first and second year commencing on or after January 1, 2022 impute one third and the remaining two thirds in that fiscal period, in equal parts, over the two immediately following financial periods. but I know $30,000 million investment required,
9. Postponement
have the option of Calculate prevention that occurred after the end date of the exerciseas long as they refer Operations originated in the said period,
“It not only allows reduce tax burden prescribed in practice, but It is also possible to reduce the amount of advances calculated And the taxpayer should enter the account for the next fiscal year,” warned Polisila.
VAT: Mechanism to reduce the tax burden
The policy also spells out VAT-related rules that allow for lower monthly tax payments, especially in the case of SMEs.
1. Exclusion of Withholding and/or Assumption
it is appropriate when Taxpayer records balance in his favor In lien.
VAT credit can be claimed for the purchase, manufacture or import of fixed assets (except cars)
2. Deferred VAT
The procedure provided for VAT determination obliges taxpayers in general Calculate and enter monthly lienBut the possibility of paying VAT was established Deferred Form for Micro and Small Companies With valid Mipyme certificate.
3. Tax Credit for Employer Contributions
chances of Calculate a portion of the employer contribution as a VAT tax credit Entered by the employer, if the worker is working in certain provinces.
He The leverage ranges from 0.65% to 8.85%Which applies to the same tax base that is used to calculate employer contributions, depending on the province where the employee is located.
4. Refund for purchase of capital goods
VAT is calculated as financial credit for purchase, manufacture, construction, expansion or import fixed fixed asset -Excluding automobiles-, may be ok Claiming your refund, provided they are eligible for income tax amortization.
5. Postponement
exceptionally, AFIP admits its computation in the affidavit which is to be submitted on the first due date The said withholding operates after, provided the relevant taxable event has been verified in the previous financial period.
,These legal tools are available to companies and taxpayers normally and allow reduce tax burdenAspects that should be present in all tax planning”, concludes Polisila.