Thursday April 20, 2023 | 8:15 a.m.
The AFIP will update from May 1 the minimum amounts from which banks must report movements in bank accounts and taxpayer cards throughout the country. The last update had been done in 2022.
The regulation of the tax authority, which was published yesterday in the Official Gazette, increased from $30,000 to $120,000 the minimum amount from which financial entities must report debit card consumption. Likewise, General Resolution 5138/2022 brings from $90,000 to $200,000 the minimum figure to report monthly credits, monthly withdrawals, account balances and time deposits.
This means that each purchase that a debit card user, that is, without financing as it happens with credit cards, makes over $120,000 must be reported by the bank that issued that card to the AFIP.
The updated regulations are as follows.
Financial entities included in Law No. 21,526 and its amendments must report:
a) The registrations, cancellations and modifications that occur within each calendar month, regarding the payroll of checking accounts, savings accounts, salary or social security accounts and special accounts – all opened in accordance with the provisions of the Central Bank of the Argentine Republic in the ordered texts called “Savings deposits, salary and special accounts”, “Sight accounts opened in cooperative credit unions” and “Regulation of the bank current account” -, as well as any other type of account that said authority establishes in the future, constituted in its parent companies, subsidiaries and branches, located in the country.
b) The total accumulated amount of the monthly accreditations made in the accounts indicated in the previous paragraph, in Argentine or foreign currency, when it is equal to or greater than TWO HUNDRED THOUSAND PESOS ($200,000.-).
c) The total accumulated amount of the monthly cash withdrawals made from the accounts indicated in subparagraph a), in Argentine or foreign currency, when it is equal to or greater than TWO HUNDRED THOUSAND PESOS ($200,000.-).
d) The balances of the accounts mentioned in subparagraph a) that, as of the last business day of the reported monthly period, are equal to or greater in the month -in absolute values- than TWO HUNDRED THOUSAND PESOS ($200,000.-). For these reasons, positive and negative amounts should be considered.
e) The total accumulated amount of term deposits constituted in the monthly information period, when it is equal to or greater than TWO HUNDRED THOUSAND PESOS ($200,000.-).
f) Consumption with debit cards of the holder and/or additional ones -excluding the amounts of withdrawals in cash and any other amount that does not imply consumption- in the country, when the accumulated amounts are equal to or greater than ONE HUNDRED TWENTY THOUSAND PESOS ($ 120,000.-) per month in each account reported in subparagraph a).
g) Consumption with debit cards abroad, made by the holder and/or additional.
h) The collection of checks for professional fees issued by courts or bodies of the Judiciary, whether they are collected by crediting an account, bank transfer or cash over the counter. i) The identifying data of the parties involved in the aforementioned operations in the preceding paragraphs.
j) In the case of accounts called ‘Special fund repatriation account – AFIP General Resolution No. 4816/2020 and its amendments’, ‘Special fund repatriation account – Solidarity and extraordinary contribution. Law 27,605′, ‘Special Deposit and Cancellation Account for Argentine Construction (CECON.Ar). Law 27,613′, ‘Repatriation Savings Bank – Law No. 27,541′, ‘Special Account for Holders with Agricultural Activity – Communication ‘A’ 7556′ and ‘Special Deposit and Cancellation Account for Argentine Investment and Production (CEPRO.Ar). Law 27,701′, in addition to the information required in the preceding paragraphs, the data indicated in Section IX of the Annex must be reported in relation to all credits and debits made in said accounts, without considering the minimum amounts provided for in the paragraphs of this article. .
According to information from the Central Bank, as of December 2022, there were 51,657,757 debit cards in force issued by financial entities in the hands of the public. In addition, there are 86 million savings account accounts opened in banks.
Yesterday’s resolution also raises the amounts in the case of payment processing system administrators through electronic or digital management platforms, including Payment Service Providers (PSP) -known as virtual wallets- that were incorporated into said information regime in July 2021.
Lastly, the regime also applies when the type of operation, whether income or expenditure (cash, bank transfer, foreign currency, digital currency) is a bank or virtual transfer, and it equals or exceeds $400,000.
The updating of the amounts will begin to apply for the operations that are carried out as of next May 1, indicates the resolution of the tax agency.
