Starting next week, they will be able to check, on the website of the collecting entity, if they pre-qualify to obtain this financing. What to consider
Starting next week, monotributistas and self-employed who want to access credit at a 0% rate will be able to check, on the AFIP website, if they pre-qualify for this financing.
The universe of taxpayers will be broader than the Government originally anticipated, since it included the monotributistas of categories A and B who signed up and obtained the $ 10,000 Emergency Family Income (IFE) that these days pays for Love 7.8 million people.
According to the Government, almost 2.5 million people could access these loans, although to determine the final universe of beneficiaries, the AFIP and the Central Bank must make finer crossings.
They are, strictly speaking, 2,350,339 taxpayers, of whom 425,494 are self-employed and the rest, monotributistas who do not have an additional formal income, such as a retirement or a job in a relationship of dependency.
And, of the almost 2 million monotributistas, 1.32 million are enrolled in the lowest categories, A and B. Of the latter, 451,575 collected or will collect the IFE.
Step by Step
The process, AFIP sources explained, will begin next week as will the payment of wages with state aid, the main leg of the ATP.
The AFIP will finish delineating the database of those who can access the financing without interest. The taxpayer interested in taking that loan must enter the Treasury website with his CUIT and there he will be informed if he has the loan available and what is the limit that he can access.
As a rule, monotributistas can take up to 25% of the annual billing cap of the category in which they are enrolled and the general limit is 150,000 pesos.
Thus, a category A taxpayer of the simplified regime can take up to $ 52,177.75, or 25% of the $ 208,711 of annual turnover of the lowest instance of the monotax. From category D onwards, the cap will be $ 150,000.
Once you have the OK from the AFIP, the taxpayer must inform how much money they want to borrow. It may be the cap that corresponds to it or less. Then, the system will inform you that this amount will be credited to the credit card, in three consecutive monthly payments, plus the amounts corresponding to the taxes that have to be paid during the three months. The taxpayer must load their CBU number and the credit card number in which they want to receive the money.
If the taxpayer pays the monotax by automatic debit, the card issuing bank will withhold the usual tax and then return that amount, which will be covered by the loan.
Once the instance is closed before the AFIP, the Central Bank intervenes. The monetary authority will verify that the reported CBU corresponds to that of the person who wants to take the loan and will also assess the credit risk. Whoever has a risk level 3 or higher will not get the credit.
According to the BCRA, credit risk 3 or “with problems” in the commercial portfolio includes those in which “the analysis of the client’s flow of funds shows that he has problems normally meeting all of his financial commitments.” Among others, mention is made of cases in which there is a default of up to 180 days and that “there is repeated and systematic refinancing of the capital owed linked to insufficient capacity to pay it even when paying interest.” In the case of consumer and housing loans, these are “medium risk” clients, who “show some inability to cancel their obligations, with arrears of more than 90 to 180 days.”
Once the Central Bank filter has been passed, the information will arrive at the credit card issuing bank that has two business days to credit the loan to the applicant.
The loan will be repaid in 18 months, with a six-month grace period. Starting in October, the taxpayer will pay, with his credit card, twelve equal and consecutive installments, at zero cost. For every 150,000 pesos of loan, he will face installments of $ 12,500. During the term of the loan, you will not be able to buy dollars to store or acquire foreign currency on the Stock Market.
Zero-rate loans for monotributistas
Implementation and conditions:
The categories of the subjects adhered to the Simplified Regime for Small Taxpayers in their condition of possible beneficiaries of the Zero Rate Credit and in relation to the Emergency Family Income -IFE- were analyzed.
In order to face the crisis situation generated by the Social, Preventive and Mandatory Isolation provided by the Executive Branch, it is recommended to advance in the implementation of the Zero Rate Credit benefit for the aforementioned subjects, as long as they are in categories A to K of the indicated regime, including those who have received the IFE.
In this sense, the criteria for the benefit considered here are modified.
Regarding the methodology to communicate the condition of eligibility for the Zero Rate Credit, for all categories, it is recommended that the AFIP communicate to each interested party such possibility of access, requesting that they require the following information:
– The will to effectively access the credit and, where appropriate, the amount requested (within the limits contemplated).
– The data of the bank credit card through which the credit will be received and, if it has it, the CBU of the account in the bank that issued it.
For beneficiaries who are not holders of a credit card, the Central Bank will request banks to enable a credit card issuance line to receive Zero Rate Credit, remotely – online and easily.
Interested parties may manage the issuance of a credit card at the bank of their choice in order to receive the benefit in treatment.
Zero rate credits for self-employed workers
Implementation and conditions:
The universe of self-employed contributors to the SIPA who qualify was defined quantitatively, and therefore are eligible as beneficiaries of the Zero Rate Credit.
It is recommended that these subjects be eligible for the Zero Rate Credit as long as they comply with the conditions defined for people adhering to the Simplified Small Taxpayer Regime.
In order to evaluate income and other indicators, in the case of self-employed workers, the period between March 20 and April 19, 2019 will be taken, with respect to the same period in 2020.
Additionally, they must meet the following conditions:
– Acceptable credit situation.
– Not being adhered to the Simplified Small Taxpayer Regime.
– Not be a member of the board of commercial companies.
The beneficiaries of this financing will not be able to access the single and free exchange market for the formation of external assets or acquire securities in pesos for their subsequent and immediate sale in foreign currency or transfer in custody abroad until the total cancellation of credit.
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