Argentina legal and accounting and tax considerations in 2023
Healy Consultants Accounting Department assists our Clients efficiently and completely discharges their monthly and annual accounting and tax obligations.
- Argentina tax return must be filed by 31st March annually. Corporate tax rate is set at 35% for resident and non-resident companies;
- A non-resident company is taxed only on its Argentina based income while a resident company is taxed on its worldwide income;
- Argentina companies are allowed to carry forward their net losses for five years;
- Withholding tax on dividends is up to 35% without DTA and 0% with DTA;
- All Argentina resident firms must file monthly returns for VAT, standard rate being 21%;
- Capital gains derived from Argentina shares are subject to income tax for residents and taxed at 15% for non-residents;
- Dividends from one Argentina resident company to another are completely tax-exempt;
- All Argentina assets, under a resident or a non-resident firms, ownership are taxed at 1%;
- Stamp duty on all real estate sales is set between 2.5% to 4%;
- The employer must pay social security of 27%;
- Prior permission from the central bank is required for repatriation on capital and profits;
- Every Argentina resident pays personal taxes ranging from 9% to 35%;
- Argentina has released a ‘white list’ full of countries that Argentina considers co-operative. These countries are not subjected to Argentina’s transfer pricing requirements and benefit from reduced withholding taxes and customs duties;
- Argentina corporate law requires companies to submit audited financial statements;
- Healy Consultants assists our Clients with i) documenting and implementing accounting procedures ii) implementing financial accounting software iii) preparation of financial accounting records iv) preparing forecasts, budgets and sensitivity analysis for Argentina business setup;
- For an active trading company, these accounting and tax fees are an estimate of Healy Consultants fees to efficiently and effectively discharge your annual company accounting and tax obligations. Following receipt of a set of draft accounting numbers from your company, Healy Consultants will more accurately advise accounting and tax fees. For a dormant company, Healy Consultants fees are only US$950;
- It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile; and they will fulfill those obligations annually. Let us know if you need Healy Consultants’ help to clarify your annual reporting obligations.
Legal and compliance
Healy Consultants Compliance Department guides our Clients through the process of fulfilling all annual legal and tax obligations.
- Argentina based company must have a majority of resident director. Healy Consultants annual resident director fees amounts to US$11,800;
- The minimum paid up capital for an LLC registration is US$300;
- Companies must take prior authorization from the Central Bank for repatriation of all amounts of profits;
- Every company must lodge an annual return confirming relevant details of the company for the public register including names and addresses of all directors, address of principal place of business and details of shareholders and their shareholdings;
- A company secretary is not required when forming an Argentina business setup, however Healy Consultants recommend one be appointed to ensure a correct compliance in accordance with corporation act;
- Argentina Data Protection Law bars firms from publicly disclosing private information about an individual;
- Argentina Gender Laws prohibits discrimination against employees on the basis of gender, sexual orientation, race or religion;
- Argentina anti-trust laws prevent firms from entering into contracts which form cartels or monopolies; permission needs to be obtained by firms on M&A matters;
- Argentina Commercial Practices Code prevents dominant players in a market from forcing out competitors through predatory tactics like excessive price reduction;
- Argentina is subject to the requirements of International Standards on auditing issued by the International Federation of Accountants (IFAC).