【KPMG Global】Argentina – Wealth Tax Deadline of April 30 for Repatriating Foreign Assets

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© 2024 KPMG, KPMG, una sociedad argentina y firma miembro de la red de firmas miembro independientes de KPMG afiliadas a KPMG International Ltd, una entidad privada
Inglesa limitada por garantía que no presta servicios a clientes. Derechos reservados. Printed in the U.S.A.
2024-098 | April 24, 2024
1
GMS Flash Alert
2024-098 | April 24, 2024
ArgentinaWealth Tax Deadline of April 30 for
Repatriating Foreign Assets
In accordance with National Decree DR 281/2024, Argentina’s government approved the extended
deadline to repatriate foreign currency holdings until April 30, 2024 (it had been March 31, 2024).1
WHY THIS MATTERS
It is important to note that individuals subject to taxation in Argentina on their worldwide assets have the
opportunity to reduce their tax rate by repatriating 5 percent of their foreign currency holdings from abroad.
More Details
Taxpayers considered as tax residents as of December 31 of each year have compliance obligations in
relation to declaring their “wealth” and paying taxes in Argentina on their worldwide assets. Under this
regime, different tax rates apply to assets held in Argentina compared to those held abroad. The minimum
nontaxable amount for fiscal year 2023 is ARS 27,377,408.28.
Wealth Tax Rates on Assets in Argentina (for fiscal year 2023)
FY 2023 Asset Range (ARS)
FROM - TO
Tax Rate
0 to 13,688,704.14
0.50%
13,688,704.14 to 29,658,858.98
0.75%
29,658,858.98 to 82,132,224.86
1.00%
82,132,224.86 to 456,290,138.07
1.25%
456,290,138.07 to 1,368,870,414.25
1.50%
1,368,870,414.25 and above
1.75%
Source: KPMG in Argentina
© 2024 KPMG, KPMG, una sociedad argentina y firma miembro de la red de firmas miembro independientes de KPMG afiliadas a KPMG International Ltd, una entidad privada
Inglesa limitada por garantía que no presta servicios a clientes. Derechos reservados. Printed in the U.S.A.
2024-098 | April 24, 2024
2
Wealth Tax Rates on Foreign Assets (for fiscal year 2023)
FY 2023 Asset Range (ARS)
FROM - TO
Tax Rate
0 to 13,688,704.14
0.70%
13,688,704.14 to 29,658,858.98
1.20%
29,658,858.98 to 82,132,224.86
1.80%
82,132,224.86 and above
2.25%
Source: KPMG in Argentina
This increased percentage can be avoided if 5 percent of the assets abroad are converted into cash and
repatriated before March 31 inclusive (deadline extended for this year to April 30). The repatriated
funds need to be deposited in certain financial institutions maintained in the country until December 31 of the
year of repatriation.
KPMG INSIGHTS
Companies with globally-mobile employees especially Argentine citizens living abroad with assets
(whether inside or outside Argentina) subject to the wealth tax under Argentine law, should consult with their
tax service professionals about completing and filing their tax returns and paying their taxes.
There could be benefits for repatriating some part of the taxpayer’s foreign currency holdings abroad.
Questions about the rules, who they apply to, and what next steps are advisable should be addressed to a
qualified tax professional or a member of the GMS team with KPMG in Argentina (see the Contacts section).
FOOTNOTE:
1 See Decree DR 281/2024: Boletín Oficial de la República Argentina, Decreto 281/2024 at:
https://www.boletinoficial.gob.ar/detalleAviso/primera/305209/20240327.
Also see, Law 27.667 (Wealth Tax Regulations): Boletín Oficial de la República Argentina, Ley 27667 at:
https://www.boletinoficial.gob.ar/detalleAviso/primera/255530/20211231.
* * * *
ARS 1 = EUR 0.001
ARS 1 = USD 0.0011
ARS 1 = GBP 0.0092
ARS 1 = BRL 0.006
ARS 1 = CAD 0.00157
Source: www.xe.com
摘要:

©2024KPMG,KPMG,unasociedadargentinayfirmamiembrodelareddefirmasmiembroindependientesdeKPMGafiliadasaKPMGInternationalLtd,unaentidadprivadaInglesalimitadaporgarantíaquenoprestaserviciosaclientes.Derechosreservados.PrintedintheU.S.A.2024-098|April24,20241GMSFlashAlert2024-098|April24,2024Argentina–Wea...

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