Transcript of "Argentine government introduces withholding tax on exports"
Argentine Government Introduces Withholding Tax on Exports
(Bristol, UK) - The Argentine Tax Authority (AFIP) introduced legislation under which a Withholding Tax
of 0.5% will be charged on all triangular exports carried out on or after 7 January 2014. Further, exports
to low-tax regions will incur an additional 1.5% withholding tax, reports Nair & Co.’s International Tax
The main objective of this new system is to minimize tax evasion and support a new tax collection
The Withholding Tax is only applicable on transactions whereby the country noted on the invoice differs
from the destination country. This may occur if there is an intermediary involved in the transaction and
the goods pass to that intermediary prior to final delivery.
Under this new system, tax is only applicable on "definitive exports for consumption", certain regimes
including but not limited to ‘temporary admission’ are exempted. Note, it is the responsibility of the
exporter to withhold tax on goods as they are processed by the local customs authority.
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Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax
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a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand
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