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Statute of limitation suspension for federal taxes

11 Jun 2013

3 June 2013 saw the publication of Law 26,860, which sets forth a regularisation regime to voluntarily declare undisclosed foreign currency held abroad or in Argentina. Taxand Argentina investigates the introduction of a 1 year suspension of the statute of limitation.

Law 26,860 sets forth, among other dispositions, a 1 year suspension of the statute of limitation in relation to the claiming or assessment of federal taxes. The law states that the suspension will affect:

  • The claim of taxes which the collection, assessment and verification of is under the supervision of the Federal Tax Authority
  • Any penalties which apply to such taxes
  • The period of time to make a claim due to the Federal Tax Authority's delay in tax enforcement proceedings and judicial appeals

Your Taxand contacts for further queries are:
Matias Olivero Vila
T. +54 11 5288 2308

Ezequiel Lipovetzky
T. +54 11 5288 2950

Taxand's Take

Multinationals with operations in Argentina should research further into Law 26,860 in order to investigate whether the law applies to their specific situation. A 1 year suspension of the statute of limitation will allow taxpayers and the Federal Tax Authority to 'catch up' on federal tax claims and assessments, and therefore will be advantageous for the Argentine tax system overall.

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Taxand's Take

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