Argentina: Entorn econòmic
Exports of goods and services are treated as zero-rated transactions, with the input VAT that can be used as a credit against output VAT or refunded following a special procedure.
Export duties are imposed on goods and services with general rates of 5% for manufactured goods and services, 8% for hydrocarbons and mining products, 15% for agribusiness products, and 33% for soybean. Furthermore, a 30% solidarity tax applies on all purchases of foreign currency by Argentine individuals for investment purposes, or by companies and individuals for payment of foreign expenditure.
A financial transactions tax of 0.6% is levied on deposits and withdrawals in current accounts; as well as a 1.2% tax on any transactions made in a bank without using a bank account. 33% of the aforementioned taxes is creditable against profits tax and minimum notional income tax and/or respective tax advances.
A stamp duty of 1% is levied on the formal execution of public and private instruments including contracts, notarial deeds and promissory notes. Special rates of 0.5%, 1.2%, 3%, and 3.6% apply in certain cases.
An annual wealth tax is levied on the shares or holding in the capital of local companies owned by individuals or undivided estates domiciled in Argentina or abroad, and/or companies and/or any other type of legal person domiciled abroad. The tax rate is 0.5% of the value of the participation. Such tax does not apply to foreign companies' branches in Argentina.
Employers contribute to the national unemployment fund, family allowances fund, and social services institute for pensioners at a unified rate of 18% (20.4% for companies who mainly render services or commerce and are above the SME's threshold); plus 6% for the social health care plan. Argentine employers are exempt to pay social security contributions for the first ARS 7,003 per month/employee (plus an additional allowance of ARS 10,000 for small employers with no more than 25 employees). The exempt amount is increased to ARS 17,509 for employers in the textile, leather goods, and agricultural industries, and healthcare services sector.
An “emergency wealth tax” was introduced as a consequence of the COVID-19 pandemic. It concerns Argentine resident individuals and undivided estates with worldwide assets valued at more than ARS 200 million as of 18 December 2020, and non-resident individuals with assets located in Argentina valued at more than ARS 200 million as of that date. Tax rates of 2% to 3.5% apply to assets located in Argentina, and rates of 3% to 5.25% to foreign assets.
Argentina | Latin America & Caribbean | United States | Germany | |
Number of Payments of Taxes per Year | 9.0 | 28.2 | 10.6 | 9.0 |
Time Taken For Administrative Formalities (Hours) | 311.5 | 327.5 | 175.0 | 218.0 |
Total Share of Taxes (% of Profit) | 106.3 | 46.8 | 36.6 | 48.8 |
Source: Doing Business, Latest available data.
Personal Income Tax | Rate |
ARS 0 - 64,532.64 | 5% |
ARS 64,532.64 - 129,065.29 | ARS 3,226.63 + 9% on excess |
ARS 129,065.29 - 193,597.93 | ARS 9,034.57 + 12% on excess |
ARS 193,597.93 - 258,130.58 | ARS 16,778.49 + 15% on excess |
ARS 258,130.58 - 387,195.86 | ARS 26,458.39 + 19% on excess |
ARS 387,195.86 - 516,261.14 | ARS 50,980.79 + 23% on excess |
ARS 516,261.14 - 774,391.71 | ARS 80,665.80 + 27% on excess |
ARS 774,391.71 - 1,032,522.30 | ARS 150,361.06 + 31% on excess |
ARS 1,032,522.30 and above | ARS 230,381.54 + 35% on excess |
Donations to tax-exempt charitable institutions are deductible up to a maximum of 5% of net income, same as for contributions to third-party medical schemes. Other medical expenses may be deducted up to a maximum of 40% of all corresponding invoices of the fiscal year (still capped at 5% of net income). Life insurance purchased from local authorised insurance companies and funeral expenses are deductible (up to limits set annually).
Individuals can deduct up to 40% of their rental expenses (up to a maximum of ARS 167,678.40), provided that they correspond to their dwelling and do not own any real property.
Mortgage and all other interest, alimony, education and childcare expenses are not deductible.
Withholding tax rates are:
Find out more about Taxes and Accounting in Argentina on GlobalTrade.net, the Directory for International Trade Service Providers.
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Actualitzacions: May 2022