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Argentina Replaces Black List System

Argentina

National Executive Decree No. 589/2013 has repealed the "low or no tax" jurisdiction list which has been in force since November 2000, in the Regulatory Decree of the income tax law. Taxand Argentina takes a look at the new white list system.

This Executive Decree abandons the black list system and replaces it by a white list system. The white list shall include all jurisdictions or special regimes that are deemed as cooperative on fiscal transparency, so that the low or no tax qualification will apply to a particular jurisdiction or special regime as a result of its exclusion from the white list.

The parameters on which the inclusion in the white list shall depend are:

  • (i) The execution of a tax information exchange agreement with Argentina, or a double taxation agreement providing a wide tax information exchange clause, to the extent the agreed information exchange is actually complied with according to the standards that will be established by the Federal Tax Authority
  • (ii) The initiation of negotiations with Argentina in order to enter into one of the agreements mentioned in (i), in relation to which the Federal Tax Authority will establish the necessary conditions for the initiation of the mentioned negotiations

Your Taxand contacts for further queries are:
Matias Olivero Vila
T. +54 11 5288 2308
E. matias.olivero.vila@bfmyl.com

Ezequiel Lipovetzky
T. +54 11 5288 2950
E. ezequiel.lipovetzky@bfmyl.com

Taxand's Take

Multinationals who are based in a jursidiction which is deemed as having low or no tax should investigate these updates as important legal consequences may apply. The referred Executive Decree is in force from 30 May 2013, but will apply from the date when the Federal Tax Authority publishes the white list, which has not yet occurred.

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