The Afip establishes new parameters to determine profits in foreign trade

The Federal Administration of Public Income (Afip) determined new parameters to establish profitability in a foreign trade operation, and consequently set the income tax to be paid, through general resolution 4717/2020 published today in the Bulletin Official.

The Income Tax Law contemplates the determination of transfer prices and international operations to determine the profitability that arises from them.

In December 2018, new provisions were incorporated into the regulation of the tax law, while the minimum amounts of the operations subject to the analysis of transfer prices were set.

Last year, transactions with subjects based in non-cooperating jurisdictions were incorporated.

Based on this, the new Afip resolution aims to demonstrate the correct determination of prices, amounts of consideration or profit margins resulting from transactions made with countries with no or low taxation or non-cooperating for the purposes of transparency. fiscal.

In the same way, it seeks to determine the prices set in the export and import operations of goods.

Earlier this week, the Directorate General of Customs (DGA) reactivated a key area in the control of products that enter and leave the country, with the aim of fighting tax evasion and currency flight.

This is the setting and monitoring of reference prices for imports and exports, which will strengthen supervision and combat abusive maneuvers in terms of under and over-invoicing of foreign trade.

As of the General Resolution 4710/2020 of the Afip, precautionary export reference values ​​were restored for any of the goods included in the Common Nomenclature of Mercosur.

The decision is part of the strategy of Customs, the body headed by Silvia Traverso, and revitalizes an area that had been dismantled as part of the opening and deregulation policy implemented by the previous government.