Update of Indices and Fiscal Values for the Year 2024: IRAE

Several indices and values to be considered for the year 2024 have been updated.

According to Decree 409/023, the monthly payment for IRAE taxpayers whose income does not exceed the limit established in literal E) of Article 52 of Title 4 of the TO of 1996 (small businesses with income less than 305,000 UI = $1,791,479 as of 12/31/2023) is set at $5,380 as a fixed amount of VAT (VAT – Small Business).

Additionally, the decree updated the minimum IRAE amounts to be paid according to the income scale in which the taxpayer falls, based on their gross taxable income from the previous fiscal year, as established in Art. 93 of T.4 of the TO of 1996.

The scales are:

De 0 (0 UI) a $2.687.218 (305.000 UI * 1.5)	$6.220
De $2.687.218 (1.5 UI) a $5.374.436 (305.000 UI * 3)	$7.050
De $5.374.436 (305.000 UI * 3) a $10.748.871 (305.000 UI * 6)	$7.710
De $10.748.871 (305.000 UI * 6) a $21.497.742 (305.000 UI * 12)	$10.350
De $21.497.742 (305.000 UI * 12) a $42.995.484 (305.000 UI * 24)	$14.020
Más de $42.995.484 (305.000 UI * 24)	$17.530

These amounts vary monthly based on the UI of the last day of the month immediately preceding the start of the fiscal year. The table shows the values for fiscal years beginning in January 2024, with the UI of 12/31/2023 = 5.8737.

Additionally, Decree 416/023 establishes the non-taxable minimum for the Wealth Tax for the year 2023 for Individuals and Undivided Estates at $6,058,000. In the case of liquidation by Family Unit, the previous amount will be doubled, reaching $12,116,000.

Moreover, Decree 388/023 set the minimum and maximum fines provided for in Article 95 (Contravention) and 98 (Public Incitement to not pay taxes) of the Tax Code, establishing them at $650 and $12,080, respectively.

Furthermore, DGI Resolution No. 2.704/023 determined the fines for late filing of declarations based on the time elapsed after the deadline.

Late Filing of DJ

Dentro del primer mes siguiente al del vencimiento	$730
Dentro del segundo mes siguiente al del vencimiento	$760
A partir del tercer mes siguiente al del vencimiento	$830

For taxpayers with no activity during the period, each late tax return will incur a fine of $730, with a maximum of $2,160 if multiple returns are submitted in a single act.

DGI Resolution No. 2.703/023 established fines for non-compliance with formal duties to the RUT according to the following scales:

Penalties and Non-Compliance with the RUT

Omisión de inscribirse	$1.050
Omisión de comunicar al RUT las modificaciones dentro de los 90 días siguientes	$720
Dentro del año siguiente	$2.840
Más de 1 año	$4.050

For individuals and sole proprietorships, the maximum fine for failing to report changes to the RUT will be $720. The fee for a duplicate RUT card is set at $720. Duplicates issued via the DGI website are free of charge.

Finally, DGI Resolution No. 2.701/023 sets the amount for exempted documented operations at $200. However, taxpayers who carry out such sales must issue daily consolidated receipts to support undocumented individual transactions, retaining all copies of the issued documentation. This regime does not apply to taxpayers using cash registers, invoicing with pre-printed forms on continuous paper rolls of variable or fixed length, or those adhering to the electronic invoicing regime, who must document all their transactions.

According to DGI Resolution No. 2.707/023, the penalty for late submission of the Audit Report is:

Penalties and Non-Compliance with the Audit Report