Argentina has published General Resolution 4332 of 8 November 2018 in the Official Gazette. The Resolution includes several amendments to General Resolution 4130 on Country-by-Country (CbC) reporting, including certain changes/clarifications. The main amendments include:
- An adjustment of the exchange rate reference for determining if the EUR 750 million reporting threshold has been met to refer to January 2015 instead of 31 January 2015, and the addition of the provision that clarifications on the exchange rate applied may be included in Table 3 (Additional Information) of the CbC Report;
- An adjustment of the wording of the second condition for secondary local filing by a non-parent constituent entity (no CbC exchange agreement) to clarify that local filing applies where the ultimate parent's jurisdiction has a current international agreement with Argentina on the due date for the report, but does not have a competent authority agreement for CbC exchange with Argentina;
- The addition of a provision with respect to designating a single constituent entity to fulfill a secondary local filing requirement to provide that all entities (otherwise) subject to filing may be subject to penalties in case of non-compliance (non-filing) by the designated entity;
- The clarification of the wording of the eighth information element of Table 1 of the CbC report to include tangible assets, other than cash and cash equivalents;
- The replacement of Article 6 (Form of Presentation) of the original resolution, including that the CbC report must be presented in accordance with the specifications defined in the user's manual available on the AFIP CbC reporting microsite and that the systems for submission are enabled from 9 November 2018; and
- The extension of the deadline for CbC notifications obligations with a standard deadline in 2018, so that the obligation is considered met if a notification is submitted (or amended) by 31 December 2018 (the standard deadline for notifications is the last business day of the third month following the end of the reporting fiscal year).
General Resolution 4332 entered into force on 12 November 2018.