who can request up to $ 150,000 at zero rate with 6 months of grace

The Federal Administration of Public Revenues (AFIP) reported that monotributistas can already request Zero Rate Credits for up to $ 150,000. The objective of this program is to assist workers adhering to the Simplified Regime for Small Taxpayers in order to accompany the productive recovery process. The agency highlighted that more than 1.5 million small taxpayers are authorized to initiate the process through the AFIP website.

He also detailed that The loans will have a six-month grace period and the repayment will be made in 12 installments without interest. And he added that the banking entities will credit the requested funds in a single disbursement on the credit card of each monotributista.

It should be noted that small taxpayers have time to complete the procedure before the AFIP until December 31, 2021 and they will have until January 20, 2022 to complete the application at the bank issuing your credit card.

AFIP indicated that those monotributistas who do not have said means of payment must select a bank that will issue a card to continue the process.

Regarding the maximum amount of Zero Rate Credits, the agency highlighted that it depends on the category in which each monotax borrower was registered as of June 30 (prior to the last recategorization). They are:

  • Category A up to $ 90,000
  • Category B: up to $ 120,000
  • Rest of the categories: up to $ 150,000

Meanwhile, he reported that the minimum of Zero Rate Credits provided for by the regulations is $ 10,000.

During 2020, the Zero Rate Credits offered financing to 562,000 small taxpayers who accessed an amount greater than 66,000 million pesos.

How to apply

To process a Zero Rate Credit, small taxpayers have to enter with a tax code at or from the Monotributo portal and access the “Zero Rate Credit” service from the search engine.

The system will inform each monotributista if they meet the requirements established by the Ministry of Productive Development to request the loan. Later, the service will inform the reasons to those who cannot request the credit. Meanwhile, those who initiate the procedure must have a registered Electronic Tax Address.

According to what was reported by AFIP, the first step is to indicate the amount of credit that each taxpayer wishes to process. Then you must inform an email and select the bank to which the credit card belongs where the credit will be credited. In that sense, those who do not have one should select a bank to issue one. The loan is not delivered by any other means than a credit card.

Then the data must be corroborated and, if necessary, edited from the “Modify data” option. Likewise, it is necessary to download the proof of the application process. Finally, the chosen bank must be contacted from the next day to finalize the procedure.

Likewise, the beneficiaries of the new program, until the total cancellation of the financing, will not be able to buy dollars in the exchange market. They will also not be able to access the US currency through the MEP or “cash settlement” markets.

In the case of monotributistas who are not in default in the fulfillment of their obligations or in the conditions of validity of the benefits that were agreed to them, as well as are not with execution in process, or the guarantee of the Fund had been executed. de Garantías Argentino (FoGAr), will be able to access the new loan under the same conditions as those who have not accessed in 2020.

In the case of those who have obtained a Zero Rate Credit within the framework of the ATP Program and are in default in the fulfillment of the 2020 credit, they must allocate the amount of the new credit to cancel the entire amount owed and will be able to freely enjoy the balance , if there is a remnant.

On the other hand, monotributistas who had obtained a Zero Rate Credit in 2020 and the granting bank had initiated the execution or executed the guarantee of the Argentine Guarantee Fund (FoGAr), will be excluded from the new benefit. In this sense, FoGAr may establish special guidelines for obtaining a refinancing on the principal balance of the loan owed.


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