Monday , August 2 2021

Financial income: what data should the banks give to their clients – 01.03.2015



Through two general resolutions (4394 and 4395), AFIP gave more information on how to pay income tax, which will affect financial investments in fixed terms, government securities and investment funds.

Banks, brokers, and investment fund managers must provide the agency with information on the investment of their customers during 2018. AFIP will store this information on every page of the taxpayer and from there the information that will be generated to take into account to settle the tax. In addition, they must all have supporting documents of operations, provided by banks or other agents.

In June 2019, when the tax should be paid, every taxpayer would have to see it if it exceeds the amount of $ 66,917.91 in benefits in total financial investments. To be paid, the percentage of different types of investment must be maintained in excess of $ 66,917.91.

The amount that exceeds the minimum will apply a rate of 5% or 15%, depending on whether the investment is in pesos or was made in foreign currency or with an adjustment clause, respectively.

With resolutions, AFIP, on the one hand, established informative mode who will be responsible for the financial entities, the registered agents in the National Securities and Exchange Commission and the investment funds depository companies, who will have to inform the agency all operations performed by their clients (natural persons) during 2018.

The information will need to be sent, until March 15th, to a microsite called "Cedular Tax – Revenues and Interest on Securities and Bank Deposits", which operates on the AFIP website.

In addition, the entities will have to make available to their clients on May 11 this year, the same information they sent over the Internet.

This tax should be paid in June (from 11 to 13), together with the general tax expiration.

What data will be given

a) Surnames and names and Single Tax Identification Code (C.U.I.T.), Uniform Labor Code Identification (C.U.I.L.) or Identification Code (C.D.I.) of the client.

b) In case of long-term bank deposits:

– Type of deposit.

– certificate number.

– Character of the informed person.

– Registration date.

– Date of maturity.

– The currency of the constitution.

– Amount deposited in the original currency and its equivalent in pesos.

– If you have a customization clause.

– Amount of updates in the original currency and in pesos.

– Amount of interest in the original currency and its equivalent in pesos.

c) in the case of public securities, negotiating liabilities, shares of mutual funds, debt securities of financial funds and similar agreements, bonds and other securities:

– Number of the basic account.

– Species code.

– Denomination of the species.

– Currency

– If you have a customization clause.

– Total amount registered for each type of updates and interests or proceeds, in the source currency and in pesos.

When registering transactions in foreign currency, conversion into pesos must be made, up to the last value of the Banco de la Nación Argentina buyer's offer at the end of the payment date or made available.

Tax payment

Every taxpayer may consult the information sent from the banking, stock exchange and investment funds to see if he is required to pay the tax. For this, you must enter with the fiscal key and the personal CUIT in the option called "Our Party".

Each person must have the relevant investment documentation:

1) interest on a fixed term: proof of executed deposits or bank statement;

2) revenues and results from the sale of government securities: evidence for settlement of operations and payment of interest;

3) Return and performance of the investment funds and financial funds: vouchers for payment of interest and liquidation of the operation.

A topic that is not small, which will need to be defined is about what information is provided and who must pay tribute whenever there is more than one investor.


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