2017年-德勤中国_美洲地区国别投资指南_23页_456kb

报告摘要

Summary of Deloitte Report: Taxation and Investment in Argentina 2017

1.0 Investment Climate

Core Content

Argentina is a country with a presidential system and a bicameral congress. It is a member of Mercosur (Southern Common Market), which includes Brazil, Paraguay, Uruguay, and Venezuela, and LAIA (Latin American Integration Association), which includes all South American countries and Mexico. These agreements aim to promote free trade, free movement of goods and services, and regional economic integration.

Key Industries and Incentives

The main industries in Argentina are agribusiness, food and beverages, chemicals, petrochemicals, and motor vehicles. The government has established incentive regimes to develop other areas, such as software, renewable energy, biotechnology, biofuel production, and mining.

Price Controls

The government controls prices in certain sectors, including urban transport, local telephone services, electricity, water, gas distribution at the retail level, and tolls on highways and rivers.

Intellectual Property

Argentina has strong intellectual property (IP) protections, including:

Law 22,426 on the Transfer of Technology governs technology and trademark agreements.
Law 25,859 protects patents, granting them for 20 years and allowing the exclusive use or exploitation of trademarks for 10 years, renewable indefinitely.
Article 17 of the Constitution and Law 11,723 provide copyright protection.
Infringement of industrial property rights is a criminal offense.
Foreign licensor or licensee may initiate legal procedures against infringement.

2.0 Setting Up a Business

Legal Entities

The main types of business entities are:

Corporation (SA): Most commonly used, requires a minimum capital of ARS 100,000, with 25% paid at incorporation and the rest within two years.
Limited Liability Company (SRL): Commonly used, with no minimum capital requirement, but 25% must be paid at incorporation and the rest within two years.
Other forms: Sole proprietorships, general partnerships, and cooperatives are also available.

Foreign Investment

Foreign investment is governed by the Foreign Investment Act, allowing foreign companies to invest on an equal footing with domestic firms without prior government approval. However, equity holdings in Argentine companies must be registered with the Superintendence of Corporations. Foreign companies must also register their balance sheet and beneficial owner information.

Branch Office

A foreign company can operate in Argentina through a branch, which must be registered with the Registry of Companies. The branch is taxed similarly to a subsidiary, but foreign assets may be subject to liability if the branch is sued.

3.0 Business Taxation

Overview

Argentina has a multi-tiered tax system with taxes at the federal, provincial, and municipal levels. The Federal Administration of Public Revenue administers and collects taxes. There is a limited tax treaty network.

Tax Rates and Rules

Tax Type	Rate	Notes
Corporate income tax	35%	Applies to most businesses
Capital gains tax	35%	Applies to gains from the sale of assets
Minimum presumed income tax	1%	On assets of tax residents
Withholding tax on dividends	0%/35%	Depends on the source of the dividend
Withholding tax on interest	15.05%/35%	Depends on the source
Withholding tax on royalties	12.25%–31.5%	Varies based on the type of royalty
Value Added Tax (VAT)	21%	Applies to most goods and services
Social security contributions	23%–27%	Based on payroll
Net wealth tax	0%–0.25%	Annual tax on net wealth

Taxation of Income

Resident companies are taxed on worldwide income.
Non-resident companies without a permanent establishment are taxed only on Argentine-source income.
Dividends from Argentine companies are exempt, while dividends from foreign companies are subject to tax with tax credits for foreign taxes and withholding.

Deductions and Anti-Avoidance

Deductible items include business expenses, taxes (except income and net worth tax), arm's length payments, director fees, salaries, and donations (up to 5% of taxable income).
Thin capitalization, transfer pricing, and controlled foreign company (CFC) rules are in place to prevent tax avoidance.

4.0 Withholding Taxes

Withholding taxes apply to various types of income:

Dividends: 0% or 35%
Interest: 15.05% or 35%
Royalties and technical service fees: 12.25%–31.5%
Branch remittance tax: 0% or 35% (treated as dividends)
Wage tax/social security contributions: 23%–27%

5.0 Indirect Taxes

Indirect taxes include:

Value Added Tax (VAT): 21%
Stamp duty: 1% generally, 2.5%–4% for real estate sales
Customs and excise duties: Apply to imports and exports
Environmental taxes: Apply to certain activities
Real estate tax: Varies by jurisdiction
Transfer tax: Applies to property transfers

6.0 Taxes on Individuals

Individuals are subject to:

Residence and worldwide income taxation
Income tax rates vary depending on the type of income
Inheritance and gift tax: Apply to transfers of property
Net wealth tax: 0%–0.25% annually
Social security contributions: 23%–27% of payroll
Compliance is required through annual filings and audits

7.0 Labor Environment

Employee rights and remuneration are protected by law
Wages and benefits are regulated
Termination of employment is subject to legal procedures
Labor-management relations are governed by labor laws
Employment of foreigners is allowed, with no nationality requirements for directors or managers