Modification of the personal property law 27.667

The reform that modifies the minimum taxable base of the Personal Property Tax was published on December 31, 2021 in the Official Gazette, which raises the non-taxable minimums to $ 6,000,000 for private objects and to $ 30,000,000 for houses.

The main modifications that were made are the following:

⋅ Art. 24 of Law 23,966 on personal property tax in order to increase the non-taxable minimum from two to six million pesos. In the case of the property intended for a house-room, the floor is set at 30 million pesos, when before it was 18 million pesos.

⋅ It is provided that these amounts will be adjusted annually by the coefficient arising from the annual variation of the General Level Consumer Price Index (CPI) of the INDEC corresponding to the month of October of the year prior to the adjustment with respect to the same month of the previous year.

⋅ For the purposes of using the aforementioned index, the provisions of article 10 of Law 23,928 (convertibility law) and its amendments, which prohibits the indexation of debts, taxes, prices or rates of goods, works or services are not applicable.

⋅ Two new tranches are added for national goods of 1.50% and 1.75% for the portions of the tax bases that exceed 100 million and 300 million pesos, respectively.

⋅ The rates for goods located abroad are modified and percentages ranging from 0.70% to 2.25% are established. Likewise, the national Executive Power is delegated the power to reduce these percentages in the case of financial assets located abroad, in the event of verifying the repatriation of the proceeds of their realization, in which case it may set the magnitude of the return of up to the amount duly paid.

⋅ The national Executive Power is empowered to increase, during fiscal year 2022, the amounts provided for in subsection z) of article 26 (exemption for supplementary annual salary) and in the second to last paragraph of subsection c) of article 30 of the Law Income Tax.

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