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Tax update: Recent developments in Argentina

Argentina

The Government of Argentina have undertaken several tax developments in recent months. Taxand Argentina highlights the main updates. 

The new Convention for the Avoidance of Double Taxation with Spain

The new Convention for the Avoidance of Double Taxation entered into between Argentina and Spain as well as its corresponding Protocol, signed on 11 March 2013 and ratified by law No. 26,918, are already in force. Said publication also states that the Memorandum of Understanding Related to the Application of the Convention that was signed together with the above mentioned instruments is also in force.

Triangulations - new perception regime

An income tax perception regime has been established which is applicable to certain definitive exports where, according to the Federal Tax Authorities (AFIP), the countries to which the goods are physically sent are not the same to those where the foreign addressee of the corresponding invoice is domiciled. The amount to be perceived will be 0.50% of the taxable base foreseen for customs taxes calculation. Whenever the export invoices are addressed to subjects domiciled, incorporated or located in countries, jurisdictions, territories and states which qualify as non-cooperative for tax transparency purposes, the above referred rate will be increased by 1.50% (therefore the total rate in those cases would rise to 2%).

Publication of the list of cooperative jursidictions for tax transparency purposes

AFIP has published the list of countries, jurisdictions, territories, states and special tax regimes which qualify as cooperative for tax transparency purposes. The Cooperative Jurisdiction List will be periodically updated by the AFIP through express approval of its highest authority and published in the AFIP’s website. 


Your Taxand contacts for further information 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  

 

Quality tax advice, globally

Taxand's Take

Multinationals with operations in Argentina should investigate all recent tax developments to ascertain which may be applicable to their specific situation, in order to remain compliant. 

Taxand's Take Author