The formal transfer pricing obligations in Argentina have been modified in the last year 2020, by means of General Resolution 4717/2020 issued by AFIP, which regulates the new transfer pricing documentation that the taxpayer must have and the new sworn statement form (F 2668) on the subject to be declared.
It should be considered that prior to such amendment, for fiscal periods closed prior to December 31, 2018, the taxpayer subject to transfer pricing rules must file the form F 743, for international operations, and form 4501 with the transfer pricing study.
Based on this, the purpose of this article is to inform about the main aspects of the new form of affidavit – F 2668.
Information System Form F2668
In accordance with article 47 of G.R. N°4717/2020, taxpayers resident in Argentina must file Form F.2668 when:
- They carry out transactions with related parties.
- They carry out transactions with domiciled individuals constituted or located in non-cooperative jurisdictions or with low or no taxation.
Whenever they have been obliged, in any of the last two fiscal periods prior to the one to be reported, to file the declaration of international transactions or transfer prices indicated in the R.G 1.122, that is to say, the form 743.
Declaration of International Transactions
As previously indicated, the declaration of international transactions subject to transfer pricing was made through Form F.743, however with the new resolution issued by AFIP this must be submitted through F. 2668.
However, unlike the previous form, this one may also declare imports and exports carried out with independent parties. The mandatory nature of Form F.2668 to report these transactions will depend on the amount of international transactions, as detailed below:
- In the case of imports and exports with independent parties, the amount of transactions must exceed the total amount of $10,000,000.
- In case of operations under the scope of transfer pricing, when the total amount of these exceeds in a fiscal period, the $3,000,000 or individually the $300,000.
Form 2668 International Transaction Filing Form
The presentation of this return will be made through AFIP’s web site, under the service option “International Operations and Transfer Pricing”, for which the taxpayer must have his Fiscal Code.
Form F.2668 and the Transfer Pricing Study
Those taxpayers who are obliged to file the Transfer Pricing Study must submit it attached to Form 4501, the latter must be filed embedded in the affidavit form F. 2668.
Deadline for Filing Form 2668
Both the Transfer Pricing Study and the form must be submitted until the sixth month after closing, according to the last digit of the CUIT.
However, according to the Transitional Provision of RG 4717/2020, both the Form 2668, the Transfer Pricing Study and the “Master Report“, corresponding to the periods closed between December 31, 2018 and April 30, 2020, shall be filed taking into consideration the following dates:
- December 2018 to May 2019, in June 2020.
- From June 2019 to November 2019, in August 2020.
- December 2019 to April 2020, in October 2020
Penalty for Failure to Comply
Failure to file the return generates a fine, which according to Article 38 of the Argentine Tax Code, is between $10,000 and $20,000 pesos.