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Argentina Introduces New Disclosure Requirement Replacing Suspended Tax Planning Disclosure Regime — Orbitax Tax News & Alerts

The Argentine tax authority (AFIP) has issued a release announcing the establishment of a new complementary information regime for international operations (Régimen de Información Complementario de Operaciones Internacionales - RICOI) for the purpose of carrying out an effective assessment and risk management of compliance in international taxation matters. The RICOI regime is established by General Resolution No. 5306/2022, requiring taxpayers to declare specified international operations (transactions) by the same deadline as their annual tax return. This includes:

  • Operations with related persons constituted, domiciled, or located abroad;
  • Operations with permanent establishments abroad and between permanent establishments, including permanent establishments of related persons; and
  • Operations with persons constituted, domiciled, or located in a non-cooperative or low/no tax jurisdiction.

For an operation to be reportable, certain other conditions (or hallmarks) apply, such as the operation resulting in double non-taxation, beneficial treatment taking advantage of asymmetries in the tax laws of two or more jurisdictions, the avoidance of CRS or FATCA reporting, the avoidance of CbC reporting, and several others. The requirements primarily apply to large companies and associations, with SMEs specifically exempted. The provisions of General Resolution No. 5306/2022 entered into force on 27 December 2022, with information on reportable operations to be declared with respect to fiscal years closed as of 1 August 2022.

Aside from establishing the RICOI regime, General Resolution No. 5306/2022 also repeals General Resolution 4838/2020, which provided for the introduction of a mandatory tax planning disclosure regime (Régimen de Información de Planificaciones Fiscale - IPF). As previously reported, the IPF regime had been suspended as a result of various court rulings in appeals brought by different Professional Councils of Economic Sciences regarding the IPF Regime.