program ‘Purchase without VAT’ comes into effect from this Monday, September 18th. If you purchase products from Basic Food Basket (CBA) using a debit card, the monthly refund limit is $18,800. Beneficiaries of this measure Must spend at least $108,000 per month To get the most out of your help. The VAT refund is valid until December 31st of this year.
In a conversation with Página|12, Carlos Castagneto, head of AFIP, announced that the first two weeks of the program’s validity will include more products than products in the program. basic food basket (as far as food, beverages, hygiene and cleaning are concerned) until the traceability of purchases and the codes of the products they contain are guaranteed.
Meanwhile, Mr. Castagneto clarified that in the case of dependent workers, VAT refunds are available for those with a net salary of up to $708,000.
9 keys to the “Buy without VAT” program
Details of the plan to arrive at one point at a time Office workers, retirees, single people, Universal Child Allowance recipients, and workers in private homes.
- This offer is available on all bank debit cards.
- At this time, if you paid money with a digital wallet account such as MercadoPago or MODO, you cannot receive a refund. However, Carlos Castagneto, head of the Federal Institute of Revenue (AFIP), assured that discussions to add these companies to the program will begin this week.
This is no small aspect as thousands of transactions are made every day through virtual wallets using money not associated with debit cards. Castagneto said Mercado Pago and MODO will have to adapt their systems to guarantee VAT refunds.
- There are products, such as milk, that are not subject to value-added tax, and products that are subject to different tax rates. However, Castagneto said that in either case, “refunds will be made.”
- No paperwork required. 21% refund It’s automatic.
- refund Funded within 48 hours of purchaseautomatically, and in a bank account of the associated debit card. If purchased between 7am and 5pm, returns will be processed within 24 hours. If completed after 5pm, the delay will be 48 hours.
- This benefit is not exclusive and is cumulative with the bank’s promotions. It also accumulates with other types of benefits, such as benefits from his DNI account at Banco Provincial de Buenos Aires (Bapro). For DNI accounts, this applies to both purchases from wallets and those who have a physical Bapro card, the official explained.
- The program operates on a beneficiary-by-beneficiary basis rather than on a family-group basis.
- To take full advantage of your benefits and receive the maximum allowed rebate of $18,800, you must spend a total of $108,324 for the month.
- The calculation to find your refund amount is to multiply the amount spent by 21 and divide it by 121. Example: ($10,000 x 21) / 121 = $1,735.
This is no small aspect as thousands of transactions are made every day through virtual wallets using money not associated with debit cards. Castagneto said Mercado Pago and MODO will have to adapt their systems to guarantee VAT refunds.
Items for which 21% VAT will be refunded are Basic Food Basket items such as: Food, meat, fruits, vegetables, dairy products, eggs, non-alcoholic beverages and items containing some alcohol, coffee, herbs, personal hygiene products, cleaning products, Among other things.