Argentina Updates Rules for Late Payment Interest Rates and Refund Interest Rates

Argentina has published Resolution 598/2019 of 16 July 2019 in the Official Gazette, which updates the rules provided in Resolution 50/2019 on new interest rates for outstanding tax debts ({News-2019-02-27/A/2-previous coverage}). Resolution 50/2019 changed the rates so that compensatory and punitive interest rates would be equal to 1.2 times and 1.5 times, respectively, of the monthly equivalent of the annual nominal rate of 180-day fixed-term deposits in pesos of the National Bank of Argen…