what to do if there was a hold on the IFE

The collection agency informed banks that they must exclude from the retention regimes bank accreditations linked to the IFE

The Collection Agency of the province of Buenos Aires (ARBA) informed the different bank associations, which group all the country’s financial entities, that bank accreditations linked to the Emergency Family Income (IFE), arranged by the national government in the framework of the Covid-19 pandemic, should be excluded from the retention regimes, it was officially reported.

“Given that among the beneficiaries of the IFE are monotributistas of categories A and B, who are taxpayers of the Gross Income Tax in the Province, we issued a notice to the banks so that they do not practice withholdings on that subsidy,” said Federico Gosman , ARBA Deputy Director of Collection and Cadastre.

The regulations in force in Buenos Aires jurisdiction establish that those subsidies granted by the national, provincial or municipal government are excluded from the bank accreditation regime. So, in case the banks had made a withholding on the Emergency Family Income, they should immediately reverse it.

“In line with the request that Governor Axel Kicillof made to the executive director of ARBA, we coordinate actions with banks to ensure that economic relief measures effectively reach those who are in conditions of greater vulnerability,” said Gosman. .

In that sense, he stated that “In order to quickly reimburse any erroneous withholding that may have occurred, at ARBA we developed a system that allows IFE beneficiaries to manage returns directly from our website, streamlining the entire process.”

In the event that they need to process a refund, the beneficiaries must enter this link, where they must complete a short form to proceed with the refund.

“Our intention is to adapt the technical procedures in the best possible way so that the citizens of Buenos Aires who receive the Emergency Family Income can fully use this benefit,” said Gosman.

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