Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES

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ACCRUED EXPENSES
 3 Months Ended
Mar. 31, 2023
Payables and Accruals [Abstract]  
ACCRUED EXPENSES

6. ACCRUED EXPENSES

 

Accrued expenses are comprised of the following:

 

    March 31,     December 31,  
    2023     2022  
             
Accrued compensation and payroll taxes   $ 634,385     $ 652,943  
Accrued taxes payable - Argentina     273,226       270,239  
Accrued interest     12,716       78,368  
Other accrued expenses     294,589       663,266  
Accrued expenses, current     1,214,916       1,664,816  
Accrued payroll tax obligations, non-current     51,951       66,018  
Total accrued expenses   $ 1,266,867     $ 1,730,834  

 

 

GAUCHO GROUP HOLDINGS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

 

On November 27, 2020, the Company entered into various payment plans, pursuant to which it agreed to pay its Argentine payroll tax obligations over a period of 60 to 120 months. The current portion of payments due under the plan is $141,880 and $209,938 as of March 31, 2023 and December 31, 2022, respectively, which is included in accrued taxes payable – Argentina, above. The non-current portion of accrued expenses represents payments under the plan that are scheduled to be paid after twelve months. The Company incurred interest expense of $17,304 and $4,487 during the three months ended March 31, 2023 and 2022, respectively, related to these payment plans.