ARGENTINE TAX UPDATE

The Argentine Congress recently approved Law N°, which grants tax amnesty to taxpayers who failed to comply with their federal tax obligations (including certain social security contributions). Under the amnesty, Argentine taxpayers may be permitted to satisfy overdue federal tax liabilities for an...

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Bibliographic Details
Published in:Journal of International Taxation 2009-05, Vol.20 (5), p.13
Main Authors: Gross, Jorge, Salerno, John, Pupo, Nicasio del Castillo Eduardo, Rivera, Josue, Vásquez, Julián, Magadan, Juan Manuel
Format: Article
Language:English
Subjects:
Amnesties
Employees
Fines & penalties
Income taxes
International taxation
Multinational corporations
Stamp duties
Tax rates
Tax underpayment
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Summary:The Argentine Congress recently approved Law N°, which grants tax amnesty to taxpayers who failed to comply with their federal tax obligations (including certain social security contributions). Under the amnesty, Argentine taxpayers may be permitted to satisfy overdue federal tax liabilities for an amount that is significantly lower than the original assessment, even where the failure to pay has been challenged by the tax authorities. The amnesty regime covers federal tax liabilities that were due on or before December 31, 2007. Taxpayers that enroll in this regime may benefit from a waiver of late-payment penalties and a significant reduction in the corresponding interest charge. The regime's provisions will apply from March 1 through August 31, 2009.
ISSN:1049-6378