How to process zero rate loans for monotributistas

The Labor Minister, Claudio Moroni, reaffirmed that the Government will grant zero-rate loans to monotributistas and self-employed taxpayers, through the Work Assistance Program, and explained that it is a “flexible mechanism” by which these benefits could be extended if the activity “continues affected” by the crisis.

This was indicated by Minister Moroni in statements to América TV, adding that registration must be done through the Federal Administration of Public Revenue (Afip), as established by DNU 376/2020, published today in the Official Gazette.

This is the norm that established the expansion of the subjects reached and the benefits included in the Emergency Assistance Program for Work and Production for employers and employers, and workers.

Among other measures, Moroni said, the decree provides for the granting of zero-rate loans for monotributistas and self-employed; also, it postpones or reduces up to 95% the payment of employer contributions; and it provides that the State will partially subsidize the payment of wages.

“There will be postponement of payment of employer contributions of up to 95% and assistance for the payment of wages to companies,” Moroni explained, and specified that what this decree does is to simplify access to these benefits.

“Companies will be able to access the benefit of payment by the State of 50% of the worker’s net salary,” the official explained.

As specified in the decree, this amount may not be less than the equivalent of a minimum wage, vital and mobile, nor exceed two minimum wages, vital and mobile.

Moroni assured that companies that want to access these benefits must “demonstrate a real impact on their turnover” as a result of the coronavirus pandemic.

Regarding monotributistas and self-employed, they will be able to access a credit at zero rate, entering the page of the Afip.

Facilities

The official explained that the decree published today in the Official Gazette facilitates access to these benefits by modifying previous regulations that required more requirements.

“In the case of the loan for the self-employed and monotributistas, it will be granted automatically and now the Central will set the precise rules for its granting,” Moroni said.

Regarding the repayment term of these credits, the head of the labor portfolio assured that “this will be set by the Central Bank, but there will be a generous grace and amortization period.”

Regarding subsidies for the payment of wages, he said that their extension in time will depend on the evolution of the pandemic: “there is a general date until June and, in some cases, until October.”

In relation to employer contributions, the decree clarifies that companies may access a postponement of maturities or a reduction of up to 95% of said amounts.

Likewise, the decree specifies that zero-rate loans for freelancers and monotributistas will have a limit of 150,000 pesos, and this financing will be disbursed “in three equal and consecutive monthly installments.”

Finally, the decree raises the economic benefits for unemployment to a minimum of 6,000 pesos, a maximum of 10,000 pesos.

Questions

– Where should you apply for the credit?

– In the same bank where it usually operates.

– Who can access zero rate credit?

– People adhered to the Simplified Regime (Monotributo) of all categories and self-employed workers. The conditions will be established by the Head of Cabinet and the Central Bank (BCRA)

– What is the amount that is accessed?

– The amount of the financing may not exceed 25% of the upper limit of gross income established for each category of the monotax, with a maximum of $ 150,000.

– Where is the credit received?

– The financing will be disbursed in three equal and consecutive monthly installments. To each of the quotas, the amount equivalent to the payment of the total amounts to be paid for the integrated tax and social security contributions by the monotributistas or compulsory social security contributions of the self-employed workers regime will be added. The referred amount will be periodically withheld and deposited in the Afip.

– From when should you start paying?

– The Government announced that it will have a six-month grace period and will be paid in 12 installments.

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