This is the 2021 facilities program that established that during the first year of validity the quotas will be adjusted at a monthly rate of 1.5%
By iProfessional
26/04/2023 – 17,59hs
Taxpayers who joined the last tax holiday they already had to face the first expiration of quotas adjustable by the Badlar rate, which implied having strong increases that reached almost 300%, that is, they tripled.
This is the facilities program established by Law 27,653, of November 2021, which established that during the first year of validity of the benefit, the quotas will be adjusted at a monthly rate of 1.5%..
After this grace period, the Federal Administration of Public Revenues (AFIP) begins to adjust the installments by the interest rate that banks charge for fixed-term deposits of more than 1 million.
“Although the Badlar rate for private banks of 70% is less than current annual inflation, the problem is that the installments of the payment plans are practically tripling in their values and companies in this crisis situation will have problems to be able to cancel them,” said Sebastián Domínguez, partner at SDC Asesores Tributarios.
How much is the increase in fees for SMEs
Dominguez noted that “the fees for the 120 installment plans increase by approximately 285% and those with fewer quotas will also suffer significant increases”.
According to information from the Central Bank, the interest rate of the market fixed term is 72.81% which implies an effective annual rate of 102.55%, below annual inflation.
Fees for 120-fee plans increase by approximately 285%
The moratorium is in force for micro and small companies with a MiPyME certificate, non-profit entities and other similar entities, and individuals and undivided estates, small taxpayers..
“In the current context of economic crisis, many small and medium-sized companies, associations and small taxpayers may find it difficult to meet the quotas of their payment plans,” said Domínguez.
For example, in the case of a company that regularized $1.2 million in 120 installments, which until now had been paying $25,000, in April the payment will rise to $75,000.
Whereas if your debt was $100,000 and you took an 89 installment plan, your installment in March was $2,200. But with the 255% increase, your fee in April is $5,600.
AFIP moratorium: why the quotas increased
For one year, the financing rate was 18% per year. But, as of this Monday, the Badlar rate for private banks is applied, which is in the order of 70% per year. It is for this reason that this month’s payment plans have increases of up to 285% for 120 installment plans.
