• Español
  • English
  • Português
The Profit Tax Law is published

The ” Profit Tax Law” is published

Comparte esta noticia

Share on linkedin
Share on facebook
Share on whatsapp
Share on twitter

By means of Law No. 27638, the Senate and Chamber of Deputies of the Argentine Government published the regulations related to the Profit Tax regime.

1. Profit tax

The regulation states that, as from the tax period 2021 onwards, the interest or the denomination of the yield from the placement of capital in the instruments issued in local currency to promote productive investment, established by the National Executive Power, will be added within the exemptions’ subsection, provided is according the governing regulation.

2. Personal property tax

The following variables were incorporated regarding personal property tax:

  • Negotiable obligations issued in local currency that comply with the requirements of Article 36 of Law 23,576 and amendments.
  • Instruments issued in local currency to promote productive investment, as established by the National Executive Power, provided are according to the governing regulation.
  • The quota-shares of mutual funds included in Article 1 of Law 24,083 and amendments, and the certificates of participation and securities representing the fiduciary debt of financial trusts constituted under the terms of the Civil and Commercial Code of the Nation, which has been placed by public offering with the authorization of the National Securities Commission (Comisión Nacional de Valores).

Regarding the last point, on the “quota-shares” it is stated that the main underlying asset must be comprised, at least, in a percentage to be determined by the regulations, of the deposits and assets referred to in paragraphs g), h), i), and j) of the regulation.

In this sense, the percentage will not be considered as complied if there is a modification in the composition of the deposits and assets mentioned therein, decreasing them below that percentage during a continuous or discontinuous period of at least thirty (30) days in a calendar year or the equivalent to the proportion of days, considering the moment of entry to the equity of the quota-shares or certificates of participation or securities representing fiduciary debt until December 31.

Source: Boletín Oficial 04/08/21

Noticias Relacionadas

Application of IFRS 10 in Argentina
Niif English

Application of IFRS 10 in Argentina

In Argentina, the accounting framework contemplates different regulatory possibilities when valuing and exposing the different items in the financial statements. The standards that can be

LEER NOTICIA »
IFRS in Dominican Republic
Niif English

IFRS in Dominican Republic

The International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board have been chosen by many countries as the accounting framework that will

LEER NOTICIA »

How can we help you?

    To communicate with us you need to fill out the following form

    I have read and agree the privacy policy