How to recover bonus earnings

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If you do not know How to recover bonus earnings, you have reached the right article for you. Here we will explain how to start this procedure, what the requirements are, who can access the refund of the Christmas bonus and much more.

How to recover bonus earnings

Now you should know that The procedure to recover the income tax on the Christmas bonus is not automatic. This means that it will be a prize for “Good Taxpayer” and the exoneration of the payment of the tax on Personal Assets will be allowed.

The Federal Administration of Public Revenuesalso known as the AFIP. He indicated that all those employees who are in a dependency relationship must request a refund of the amount. This can be done through the official website of the agency.

Once the process has started, The entity in charge of collecting this information will verify that the taxpayer is up to date with his taxes and his affidavits from previous years.

How to start the process

How to start the process? Well, you should know that once the Executive Power enacts the Tax Amnesty Law, the AFIP will organize the procedure that users must follow. It will specify the requirements to recover the income tax from the half bonus.

Who can access the refund of the bonus

Not sure if you qualify to access the bonus refund? Calm! In this section we will explain this information to you.

this benefit It is aimed at all those taxpayers who have complied with their tax obligationsinformation corresponding to the fiscal periods of the two (2) years prior to the one in progress.

This is the main requirement that must be met by all those who wish to receive the prize stipulated by the Money Laundering Law. For this, they must request the return of what they have already paid in excess to the AFIP.

What are the requirements of the “compliant taxpayer”

On the other hand, is called «Compliant Taxpayer» to all those people who are monotributistas, self-employed workers who are registered in the General Regime and small companies that until 2020 did not register any of the qualifying conditions that we will explain below:

To qualify as a “Compliant Taxpayer” from making sure that you meet the conditions that we will explain below:

  • All those who, until August 2020, did not register non-compliance in the presentation of determinative sworn declarations to which they were obliged, nor in the payment of tax obligations for fiscal periods beginning since January 2017.
  • All persons who, up to the date stipulated in the previous point, did not have payable debts for tax, customs and social security resource obligations during fiscal periods beginning as of January 2017.

You must bear in mind that the advances are allocated to the corresponding fiscal periodthat is, they are independent of the expiration date.

Now, regarding customs obligationsas they do not have a completely direct relationship with the fiscal periods, those that expired as of January 2017 are taken into consideration.

  • All those who have the Unique Tax Identification Key (CUIT) inactive or that is limited by inclusion in the base of unreliable taxpayers. This may be due to the periodic evaluations of taxpayers that are carried out within the framework of the general resolution (AFIP) 3832.
  • Another essential requirement to be a «Compliant Taxpayer» is that the person has updated the code of activity that is developed and their address information. Even that taxpayer who had been registered in the year 2020 and continues to be at the time of requesting this benefit.

How to recover bonus earnings: Benefits for Compliant Taxpayers:

Benefits will vary depending on the type of taxpayer be treated. These might be:

  • Monotributists: This group is exempt from paying the tax component as of the 2021 fiscal period.
  • Freelancers: These may apply in the Income Tax Sworn Declaration for the period of the year 2020 an additional Special Deduction that is equivalent to 50% of the Non-Taxable Minimum for the current year.
  • Legal persons: All micro and small companies can practice the accelerated amortization of certain investments that are made in amortizable assets or infrastructure works.

Below we will explain what are the requirements that the worker must meet to receive the refund of the withholding:

  • The worker must NOT have entered this or the Money Laundering of the year 2013.
  • The person must not have any debt with the AFIP.
  • Must not have adhered for two (2) years to moratoriums or private payment plans that have been granted by AFIP in use of the powers delegated in Law 11,683 of Fiscal Procedure.
  • Every taxpayer who earns up to two hundred thousand Argentine pesos ($200,000) gross per year must have submitted a sworn declaration of Personal Assets during the last two (2) years.

This applies even if the taxpayer does not pay the tax for having assets below three hundred and five thousand Argentine pesos ($305,000) of fiscal value.

Finally, once the order has been placed through the agency’s websitethe AFIP will check that the person is a «Good Taxpayer» to proceed with the refund.

That is why the entity in charge of collecting the information will deposit it in a bank account of the taxpayerby means of a CBU, the amount of the advance that has already been paid for the tax corresponding to the year.

Who does not qualify for this benefit?

In the same order of ideas, It is important that you know that the benefits for Compliant Taxpayers do not apply to income obtained as an employee in a dependency relationship for the performance of public positions, pensions, pensions and withdrawals that originate in personal work, nor for those directors of cooperative societies who wish to do so.

Also, it is important to note that there is a group of taxpayers who for different reasons do not qualify to be recipients of this benefit. These people are:

  • All those subjects that do not meet the status of monotributistas or are registered as micro or small companies.
  • All persons who have been declared bankrupt without continuity of exploitation.
  • Those individuals who have been convicted of crimes provided for in the Criminal Tax Law, in the Customs Code or for intentional crimes that are related to non-compliance with tax obligations. This applies once a final judgment has been issued prior to August 2020 and the sentence has not been served.
  • All those legal entities in which their partners, administrators, directors, advisors, members of the supervisory board or those who hold equivalent positions in them have been convicted of any of the infractions or crimes that we have mentioned in the previous section.

How to recover earnings from the bonus: How is the procedure for those who do not pay Personal Assets

Don’t you know what the process is like for those who don’t pay Personal Assets? Calm! Here we will explain the most important information you need to know about this topic. We invite you to continue reading our article.

In these cases, the employee in a dependency relationship who pays Earnings but not Personal Assets must enter the System for Registration and Updating of Income Tax Deductions with a Fiscal Keyalso known under its acronym SiRAGID.

SiRAGID is a system that allows employees to transmit all the corresponding information electronically and automatically to their employers. Thus, the worker presents the Form 572 with the concepts to deductthe earnings that they would have received or those extra incomes that they would have in case of having another job.

In that sense, this is a AFIP microsite in which the Income Tax deductions are managed. In it you will find an option to request the benefit of the Tax Amnesty. Then the body will analyze the case and, if it deems it appropriate, will give the order to the employer to proceed with the return of everything withheld.

Earnings: per bonus, only up to $3,500 per year could be recovered

On the other hand, we consider it very important that you know that the exemption from the Income Tax of the December Christmas bonus, in the best of cases, it could represent a return of three thousand five hundred Argentine pesos ($3,500). on the annual calculation of the tax on the income of a single worker who earns more than twenty thousand Argentine pesos ($20,000) in net salary.

Effectively, for a salaried and single person who has a salary in hand of sixteen thousand Argentine pesos ($16,000), Instead of deducting twenty-four thousand six hundred and forty-three Argentine pesos ($24,643) in the year for Earnings, they will withhold a total of twenty-two thousand thirty-nine pesos ($22,039).

The foregoing represents a relief of approximately two thousand four hundred and eighty Argentine pesos ($2,480). Nevertheless, This is something that does not prevent the equivalent of more than one salary per year from being deducted from Earnings.

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