Monday, May 29, 2023

AFIP updates minimum amounts for declaring purchase of real estate, cars and motorcycles

AFIP revised the minimum values ​​that taxpayers are required to declare on transfer of immovable property, used cars and motorcycles. The decision was made on the basis of General Resolution 5362/2023, published this Friday in the Official Gazette, which will come into force from 1 June.

“Based on the reasons of the tax administration, it is considered appropriate to increase the amount in order to recover the character of a representative objective parameter of the economic operation,” justified the collecting entity.

Thus, the agency increased from $600,000 to $1,100,000 the value of which the person transferring the car declares an arbitration or buy-and-sell operation on its own or third party’s account.

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Meanwhile, for used motorcycles, the value at which a transfer must be declared increased from $240,000 to $450,000.

In addition, the AFIP increased from $5 million to $9.4 million, the value that obliges owners to obtain a Real Estate Transfer Offer Code (COTI) before negotiating, offering or transferring a property. Let real estate or rights to real estate be created.

It also increased from $2.4 million to $4.5 million, the price that owners must obtain a Vehicle Transfer Certificate (CETA) before they can operate.

As provided, shall be updated annually, effective as of April 1 of each year, by a coefficient arising from the annual variation of the general level Consumer Price Index (CPI) as measured by INDEC.

AFIP will notify those responsible of the updated amounts via the institutional website, which is expected to be published in March each year. (NA)

Nation World News Desk
Nation World News Desk
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