Personal Tax in Argentina
- Tax Base For Residents and Non-Residents
- Residents are taxed on all their national and international incomes while non-residents are only taxed on income received in Argentina.
|Natural persons resident in Argentina are liable for income tax.||A progressive tax on their worldwide income from 9 to 35%.|
- Allowable Deductions and Tax Credit
Under the Income Tax Act, some exemptions are provided for the financial and capital markets, whereby interest on time deposits, government securities, and income from stocks and bonds that are quoted on the Stock Exchange are not subject to tax. Employees are subject to withholding tax at source, for which the employer is responsible (withholding agent).
There are several types of allowances or tax reductions. The amounts vary from 1,200 ARS to 18,000 ARS. For more details consult the Argentina Tax Guide 2010.
- Special Expatriate Tax Regime
- There is no specific tax regime for expatriate.
- Capital Tax Rate
- Wealth tax : 0.5% for a fortune estimated at less than 200 000 ARS, 0.75% above this figure. For non-residents, the rate is 0.75%. Taxes on financial transactions: 0.60%. This tax is levied on all assets located in Argentina and in foreign countries. For more details, consult this study on Taxes on wealth in Argentina.
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