Law 27,541 (published 23 December 2019) introduces a package of emergency tax measures to assist in recovery from the economic crisis.
The legislation (effective 23 December 2019) includes amendments in relation to income tax and dividend withholding tax rates; inflation adjustment for tax purposes; regularization of tax liabilities for micro, small or medium enterprises (referred to by the Spanish acronym MiPyMEs); personal property tax; export duties; and a new tax applicable to the acquisition of foreign currency and purchases made by Argentine residents using foreign currency.
Multinational companies conducting business activities or planning to invest in Argentina need to consider these changes and if warranted consider taking immediate action. Specifically, because of the nature of these amendments, taxpayers need to evaluate potential effects on their current operations and on the way their business in Argentina has been structured.
Corporate income tax
Tax on credits and debits in Argentine bank accounts
Taxation of financial investments for Argentine residents
Regularization of tax obligations, social security and customs for MiPYMES
Personal property tax
Withholding tax on exports
New tax applicable to the purchase of foreign currency
Social security taxes
For more information, contact a tax professional with KPMG’s Latin America Markets Tax practice or with the KPMG member firm in Argentina:
Christian Athanasoulas | + 1 (617) 988-1015 | firstname.lastname@example.org
Alfonso A-Pallete | +1 (305) 913-2789 | email@example.com
Rodolfo Canese | + (5411) 4316-5740 | firstname.lastname@example.org
Violeta Lagos | + (5411) 4316-5740 | email@example.com
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