The Law for the Promotion of Pymes was published in the Official Gazette on August 1 of this year. It contemplates several measures regarding tax benefits and promotion for the use of credit instruments.

The 6 measures that are highlighted in the Pyme Law:

  1. Eximición of the Minimum Presumed Income Tax from the fiscal year beginning on 01/01/17
  2. With regard to the Tax on Bank Debit and Credits (IDCB), the computation is allowed as payment on account of the Income Tax as follows:
  3. 100% for micro and small businesses.
  4. 50% for those considered: Medium Section 1 Manufacturing Industries.
  5. VAT may be paid 90 days after the expiration of the corresponding sworn statement. Micro and small businesses will be included in this benefit.
  6. Productive Investments: these are considered to be those in capital goods, in breeding stock and in pedigree or purebred females, carried out between 07/01/16 and 12/31/18. For this period, companies will enjoy fiscal stability in each jurisdiction, not having increased the tax burden for each tribut
  7. Those who make productive investments, may compute 10% of the amount invested as payment on account of profits with a cap of 2% of the average of the net sales made in the year of the investment and in the immediately previous one.
  8. Those human persons or companies that when making productive investments will be generated by such a fact, balances in favor of technical VAT (SAFT), may request a non-transferable bond that will allow them to pay national taxes.


Agricultural MICROPYME classification

Micro -> $ 2,000,000 annual net income

Small -> $ 13,000,000 annual net income

Median1 -> $ 100,000,000 annual net income

Mediana2 -> $ 160,000,000 annual net income

Conclusion:

Given the magnitude of the value of annual net income to obtain the benefits mentioned, many companies can make use of them. The financial impact will begin to be seen first with the possibility of paying the balance of VAT sworn statements 90 days after the original due date.

 

CPN Alejandro Larroudé

Barrero & Larroudé