The Federal Administration of Public Income (AFIP) has updated the amounts that must be reported for purchases and sales of automobiles and motorcycles.
The agency reported that the destination for requesting Automotive Transfer Certificate (CETA) and Real Estate Transfer Offer Code (COTI) was also updated. At the same time, an annual update mechanism for the values was established.
These provisions will come into force on June 1 this year, which include.
Used Vehicles & Motorcycles
The amount to be reported for arbitrage and buy-sell operations of used motor vehicles and motor vehicles was raised.
In the case of automobiles, the value increased from $600,000 to $1,100,000.
For motorcycles, the amount increased from $240,000 to $450,000.
Actions must be reported when the value entered in the pricing table used by the National Directorate of the National Registry of Motor Vehicle Property and Pledged Credit (DNRNPAYCP) to calculate the tariff is equal to the highest of them. or higher than the indicated new values.
Transfer Certificate
Automotive Transfer Certificate (CETA) to be obtained when the value agreed to be transferred or, if it exists, its value as per the above valuation table, for calculation of tariff, the higher of them, equal to or greater than $ is 4,500,000 (previously, this floor was located at $2,400,000).
Real estate operations
Real estate transfer offer code (COTI), for its part, is to be obtained when the taxable base is established for payment of conveyance value or real estate taxes or similar taxes, or stamp duty levied on transfer thereof or current The value of the property in question—any of the above values—is equal to or greater than $9.4 million, an amount that was previously set at $5 million.
Annual update
It was also established that these amounts would be adjusted annually in April by a coefficient arising from the annual variation of the general level Consumer Price Index (CPI) provided by the Statistics and Census Institute (INDEC). October of the previous year for adjustment in respect of the same month of the previous year.
