Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 9/4/2012

Argentina - Income tax, VAT rate increases for imports 

September 4: Argentina’s tax administration (Administración Federal de Ingresos Públicos) issued a resolution providing changes to documentation requirements and to the income and value added tax (VAT) rates for final imports.

Resolución General AFIP Nº 3373/2012 (Spanish), published in the official gazette (Boletín Oficial) 24 August 2012, establishes modified income tax rates applicable to the final import of taxable goods:


  • An income tax rate of 6% (previously 3%) with respect to import transactions
  • An income tax rate of 11% on the final import of goods destined for use or consumption by the importer

Certain taxpayers must now pay an additional “perception” at a rate of 21% or 10.5% on identified imports.  On the import of goods, Argentine customs officials collect certain amounts—including VAT and the “perception” (an advance payment that can be claimed as a credit in the next tax return).


The resolution also repeals the requirements for a certificate of validation for importer data (certificado de validación de datos de importadores).


These provisions are effective 7 September 2012.


Read an August 2012 report (Spanish) prepared by the KPMG member firm in Argentina: Envío especial – Agosto 2012




©2012 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to go-fmtaxnewsflash@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now

Contact us