|Bruchou, Fernández Madero & Lombardi, Taxand Argentina|
|Pistrelli, Henry Martin y Asociados (EY)|
|Rosso Alba, Francia & Asociados|
|Goldemberg & Asociados|
|Litvak & Asociados|
|Luna Requena & Fernández Borzese Abogados (WTS Argentina)|
|Teijeiro & Ballone|
The past year has been a tough one for Argentina economically. With high inflation rates acting as a hidden tax, many companies are struggling and foreign investors see Argentina as a risky country to invest in because of the economic instability. While practitioners are optimistic that positive changes will soon happen and that better times lie ahead, the new government has a lot to clear up before Argentina's economy is on stable ground.
The tax authorities are reportedly being more relaxed on audits in general, however certain sectors of the economy are being put under the microscope, facing an increasing amount of aggressive audits. The commodities sector in particular has been targeted this year, according to Deloitte. However, the sector has seen positive changes too, with the new government removing export taxes on minerals, including on gold and silver.
The OECD's BEPS programme, which is a major talking point in many other jurisdictions, is not such a pressing concern in Argentina. The country is an observer of the programme, but nothing has yet been formally assessed in terms of legislation. While Argentina wants to become a member of the OECD, and is following certain processes such as Action 13 on country-by-country reporting (CbCR), the country is already following the principle of substance over form, which is very similar to the measures in the BEPS programme.
"There is no need to implement many of the BEPS measures here because Argentina is following the principle of substance over form which already covers many of the issues addressed by BEPS," said Martin Barreiro, head of tax at Baker & McKenzie. "Argentine courts have been applying as interpretation tools all the measures adopted by the OECD which were relevant for the cases handled by them in Argentina," he added.
Administración Federal de Ingresos Públicos (AFIP)
Hipólito Yrigoyen 370, C1086ADD, Buenos Aires, 1086
Tel: +54 0810-999-2347
(As of April 2016)
|Corporate income tax rate||35% (a)|
|Capital gains tax rate||15/35% (b)|
|Branch tax rate||35% (a)|
|Royalties from patents, know-how, etc.||21/28/31.5% (d)|
Net operating losses (years)
Source: EY 2016 Worldwide Corporate Tax Guide