Bruchou, Fernández Madero & Lombardi, Taxand Argentina, delivers the main guidelines of the tax reform bill.
Yesterday, the Argentine Finance Minister, Dr. Nicolás Dujovne, informed to the press the main guidelines of the tax reform bill (the Bill) that would be sent to Congress during the following days. As of today, the draft version of the Bill has not been officially published. However, an official document detailing the main guidelines of what would be the modifications has been made public.
The Bill would introduce several modifications to the existing tax regime; please find below the most relevant aspects:
Main taxes that would be modified
• Social Security
• Income Tax for corporate entities and individuals
• VAT
• Tax on Debit and Credits on Bank Accounts
• Local taxes (turnover tax, stamp tax)
• Excise tax
• Tax on fuels
• Tax on the transfer of real estate
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Please note that the tax reform would be implemented in a progressive way, in stages in up to five years.
