A classic of every year between March 31 and mid-June is that the Accountants are seen in all colors to be able to prepare the Income Tax declaration, due to the inconsistencies that clients try to pass through, and that the AFIP has all the tools to discover.
Faced with this situation, Augusto Iraola and Micaela Benayas, from the Inforaction consultancy, specify three mistakes not to make when preparing the tax returns of natural persons in the middle of the year, and whose preparation is already beginning.
Profits are coming, why you have to avoid mistakes
“The assembly of the sworn declarations of taxes on Profits, Personal Assets and financial income is coming, whose presentation will take place between June 12 and 14,” recalled Iraola and Benayas.
“Although it is a place where one believes that there is little to do, because the rate of 35% in Earnings hammers everyone regardless of the type of income, there are certain “sticks” that from Inforaction we recommend not stepping on,” they emphasized.
“What would it be to step on? They are key points that the AFIP will look carefully to decide later if a summons with a request for information is appropriate and even assuming that there is tax evasion,” they declared.
“These dangers are the focus to review before approving a presentation of an affidavit,” they said.
In Income Tax, errors that AFIP interprets as evasion must be avoided
What mistakes can be made with consumption in Earnings
Consumption
It is a number that is determined and reported in the Income Tax affidavit, which does not generate tax to be paid or decrease it; and that is why taxpayers tend to ignore their review, but it is the first strong point that AFIP has to review a taxpayer, indicated Iraola and Benayas.
It indicates how much of what he earned during the year plus what he had saved, the person used to live.
that consumption must coincide minimally with the sum of the expenses to which the tax authorities have accessFor example, the following, listed:
1. Total annual credit cards. Be careful here with the additional plastics, because AFIP considers them own consumption.
2. Annual total of debit cards
3. expense and rent.
4. Colleges.
5. Social work and prepaid.
6. Other expenses that the taxpayer took the trouble to pay in cash, but they were invoiced to him in his name.
The expenses with credit or debit card are informed by the banks to the AFIP
How does the AFIP know what was the consumption in Profits?
“All these expenses were made with the intervention of information agents who are extremely supportive when it comes to sharing information with the AFIP,” warned Iraola and Benayas.
“For this reason, an analysis of reasonableness of consumption must be made: monthlyize that number that appears from the F711 form, and with that determined value, compare it against the usual dynamics of the taxpayer,” they specified.
“An important tool to consult is the AFIP service called Our Partwhere the tax office shows what information on expenses it already has from the taxpayer,” they explained.
“But the consumption is only shown in the affidavits of those responsible registered in VAT and Earnings,” they clarified, and affirmed that “employees in a dependency relationship obliged to submit the simplified Earnings statement should also calculate their own consumption. Because if Although it is not shown on the form, AFIP has the tools to analyze it,” they stated.
Second error: the declarations of Personal Assets and Earnings do not match
“Yes ok This is not an item that necessarily generates a variation in the tax either, AFIP see that it matches those declared in the taxes on Income and on Personal Assets, and otherwise, you can suspect evasion”, Iraola and Benayas maintained.
“EIn Registered Managers, but not in employees, the Earnings statement also shows the composition of equity, so this must match the comparison with Personal Property. It is necessary ensure item by item, that all the components of the patrimony are replicated in one and another sworn statement“, they remarked.
The declaration of equity in Profits must coincide with that of Personal Assets
“However, we talk about items and not values, because the type of valuation may not coincide. A property is exposed in gains at historical value while in Assets it is made for the higher value between fiscal valuation and residual value. Or credits are exposed in Earnings that are not included in Personal Assets, and vice versa“, they exemplified.
Why you should not anticipate in the presentation of Earnings
Although Iraola and Benayas acknowledged that it is “a controversial recommendation”, they appealed that “We are in Argentina, and the payment of an expense such as the tax made today is not the same as made in the last instance possible”.
“Las extensions are already a habit for AFIP, and when the presentation is extended, the payment is also generally extended. For this reason, it is useless to anticipate, present and pay before maturity, since AFIP does not recognize any balance in favor nor will it return any tax,” they emphasized.
“Pdelaying payment in an inflationary economy will always be a benefit. For reference, in 2021 the maturities were set for mid-June, and successive extensions took it to the end of August”, they recalled, and pointed out that these postponements “are notified the day before each expiration”.
On the other hand, wait for the last expiration “It can represent up to 2 months with the money in your pocket, without penalty for those who waited, and free to invest and generate a difference, against a tax without variations in nominal terms”they concluded.
