Argentina Introduces New Late Payment Interest Rates Based on National Bank Rates

Argentina has published Resolution 50/2019 of 7 February 2019 in the Official Gazette, which provides new interest rates for outstanding tax debts. Under prior rules, compensatory interest at the rate of 3% per month applies for late payment, which is increased to a 4% punitive interest rate in cases where the collection of outstanding tax debts has been referred to the courts for enforcement. The resolution includes that these rates must be updated to reflect current economic conditions in …