INCOME TAX OF FARMING ACTIVITIES (IMAGRO)
The tax to the Rent of Farming Activities burdens the originating rents of the farming activity made in the national territory. Being understood by farming activity the one that is made with the intention of obtaining primary, vegetal products, or animals, by means of the use of the factor earth, such as: it raises or it gets fat of cattle, production of wools, leathers, bristles; agricultural, fruits and vegetables production; milk production.
It is considered included/understood the present in concept, the possession of rural buildings even though in such is not made no type of activity.
They are subject to the tax:
The physical people;
The societies with or without legal function and position of agent;
The associations, corporations and other deprived organizations of any nature.
The person domiciled or constituted in the outside and its branches, agencies or establishments in the country.
Exonerations:
Buildings whose total surface does not surpass the 20 hectares, in buildings that do not surpass the 100 hectares exclude 20.
Hectares occupied by natural or artificial forests and permanent lagoons.
How to calculate the tax:
Fiscal value: fixed annually by the Servicio Nacional del Catastro by hectare by zone.
Gross Rent: determined in presumed form applying 12% on the fiscal values.
Expenses: 40 % of gross rent or 45% when the contributor is renter.
I.V.A.: Entered to determine the net rent, it will be admitted to deduce the amount of the I.V.A. properly documented that corresponds to the acquisitions of goods or services affected to the taxed farming activities by this tax.
The deductible maximum will be 30% of the amount of the gross rent. The I.V.A. that exceeds could be used like fiscal credit in the future exercises until they are exhausted.
Losses by natural causes or fortuitous: the percentage will be deductible on the gross rent that establishes the Executive Power in the year that corresponds.
NET RENT = GROSS RENT - EXPENSES - I.V.A. - LOSSES BY NATURAL CAUSES
TAX = 25% ON NET RENT
Used forms
Form 426, Imposed to the Rent of Farming Activities.
Form 827, Retentions I.VA., Tax to the Rent, IMAGRO.
Form 829, Annexed Form 827
Expiration
In agreement with the completion of the RUC:
- 0-9 sixteenth working day of the fourth following month to the fiscal period that is declared.
- A-J seventeenth working day of the fourth following month to the fiscal period that is declared.
- K-Q 18th working day of the fourth following month to the fiscal period that is declared.
- R-Z nineteenth working day of the fourth following month to the fiscal period that is declared.
The qualified banks to receive the payment of taxes are: National Bank of Promotion, Citibank, Bank of the Parana or in the regional agencies of the Secretaria de Estado de Tributacion.
