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Tax update: Recent developments in 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.
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