Argentina: Taxation without representation or how to disguise a new tax under the form of an additional prepayment of Income Tax
Main features of the new extraordinary prepayment on account of Income Tax General Resolution 5248/22 (the Resolution), issued by the Argentine Tax Agency (AFIP), and gazetted on August 16, 2022, set forth an extraordinary (“one-time”) prepayment on account of Income Tax payable by corporate taxpayers contemplated in article 73 of the Income Tax law (ITL)[i]….