On November 18, 2022, the Inspectorate General of Justice (“IGJ”) published in the Official Gazette Resolution 14/2022 (the “Resolution”), by means of which such agency established the categorization of Civil Associations (the “Associations”) according to the total annual income for the closing of the fiscal year.
Associations are legal entities whose corporate purpose is oriented towards the achievement of the common good, which must not be contrary to the general interest and must not pursue a profit motive as its main objective.
The Resolution establishes modifications to articles of the previous resolution 07/2015, some of these modifications are:
- Art.391: establishes that at the time of submitting documentation for ordinary meetings (except for Category 1 Associations), an “annual inventory” certified by a public accountant and signed by the legal representative must be submitted, which must contain the details of the composition of assets and liabilities corresponding to the statement of net worth as of the closing date of the fiscal year.
- Art.396: The communication of the change of the registered office, which does not involve a change of the bylaws, requires the presentation of: (a) Form of Action, (b) First testimony of the public deed, transcription of the minutes of the meeting.
- Art.409: Categorization of Associations:
- Category I: First-degree associations incorporated in Argentina whose total income per fiscal year does not exceed the amount equivalent to Category H of the monotribute in force at the end of the fiscal year.
- Category II: First degree associations incorporated in Argentina whose total income per fiscal year exceeds the amount equivalent to Category H of the monotributo in force and does not exceed ten times such amount.
- Category III: First degree associations whose total income per fiscal year exceeds the maximum amount established for category II. Associations incorporated abroad, chambers, federations and confederations are included in this category, regardless of the amount of total income per fiscal year.