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Local branches not subject to assets tax

Local branches not subject to assets tax

The national supreme court has ruled that Argentinian branches of international companies are no longer obliged to pay personal assets tax. Taxand Argentina provides an overview of this development.

In a case involving the Bank of Tokyo and Mitsubish UFJ the court stated that Argentine branches of foreign entities are not subject to the substitute taxpayer regime (régimen de responsable sustituto) of the personal assets tax.

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Matias Olivero Vila
T. +54 11 5288 2308
E. matias.olivero.vila@bfmyl.com

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Taxand's Take

Foreign entities should pay 0.5% on the proportional net-worth value of the last financial statement as of December 31st of each year, corresponding to the mentioned participation.

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