ARGENTINA: EXTRAORDINARY PAYMENT ON ACCOUNT OF INCOME TAX – HYDROCARBON SECTOR
An Extraordinary Payment on Account of Income Tax for the Hydrocarbon Sector was published today in the Official Gazette of Argentina through General Resolution No. 5453/2023.
Entities carrying out any of the activities below shall be subject to the payment on account obligations provided that in the FY 2022 or FY 2023 Income Tax return, as applicable, they reported a tax result equal or greater than AR$ 600,000,000 – without prior tax losses deductions:
- Raw Petroleum Extraction
- Natural Gas Extraction
- Petroleum Refining Products Elaboration
- Conventional Thermal Energy Generation
This extraordinary payment on account shall be computed in the subsequent tax period following the one considered as a calculation basis (i.e., Closing period occurring October – December 2022: FY 2023, Closing period occurring January – September 2023: FY 2024)
The payment on account shall be calculated by applying a 15% tax rate on the abovementioned tax result of the immediately preceding tax year to the one in which the payment on account shall be allocated.
The payment shall be made in 3 installments in line with General Resolution N° 1778, as amended, by using the Tax-Code-and Sub-code: 10-185-185, according to the following deadline schedule:
| Exercise Closing-Date | Deadline Installment N° 1 | Deadline Installment N° 2 | Deadline Installment N° 3 |
| October 2022 – June 2023 | 12/22/23 | 01/22/24 | 02/22/24 |
| July 2023 | 01/22/24 | 0222/24 | 03/22/24 |
| August 2023 | 02/22/24 | 03/22/24 | 04/22/24 |
| September 2023 | 03/22/24 | 04/22/24 | 05/22/24 |