It is a tax levied on property or “assets” of an individual or undivided succession, in existing assets to December 31st of each year. Residents in the country shall pay taxes on property in the country and abroad, Argentinean people that resides abroad and foreigner non residents at Argentina shall pay taxes only on the assets located in the country, through a subrogate. They are paid through an annual affidavit, with an advance cargo regimen, if applicable.

The personal asset tax is levied on, among other items:

• Real estate
• Vehicles
• Boats
• Shareholding
• Cash
• Etc.

It is an Act that taxes the income of individuals of visible existence, ideal existence and undivided successions.
Non resident individuals will pay tax on income coming from Argentine source, as beneficiaries from abroad, and shall pay the tax through a withholding of tax at source as single and definitive payment.
What does Argentine Law understand by natural person and successions?
Yields and incomes subject to a frequency that implies the permanence of the source that produces them, or the results obtained by the disposal of movables, shares, securities, bonds, etc.

This tax is the minimum a taxpayer must pay as income tax for a particular fiscal period. The Law considers that this minimum payment is 1% of the assets at the final settlement of a fiscal period.

According to the Law in question, the tax is levied on permanent establishments, of or located in Argentine Republic, for development, or commercial or industrial activities, etc., for exploitation or profit, production of goods or provision of services, which belong to individuals or companies of abroad.

This tax was repealed as of January 1, 2019, but remains in force and effect regarding previous years that were not included in the statute of limitations.

The Value Added Tax (IVA) is a tax on consumption, which is applied to the sale of goods, the provision of services, and to the importation of certain goods.
This tax is levied directly on consumption and particularly on leases greater than $1.500 (Argentine pesos one thousand five hundred) per month at a 21% rate, with some exceptions, such as leases granted to the National State or rural properties for exploitation, among others.

This tax is levied on property transfers made by natural persons and undivided successions, as long as such transfers are not reached by the income tax.
This tax considers a transfer to the sale, barter, exchange, payment in kind, contribution to societies, and any disposal act by which the ownership of a property is transferred onerously, except for expropriation.

The rate of this tax is 1.5% of the transfer price and should be withheld by the notary public involved, or the buyer in case no notary public is involved.

Aliens and non residents must submit some specific documentation to the Federal Administration of Public Revenue (AFIP) when selling or transferring a property, to obtain a tax withholding certificate, otherwise the notary public cannot proceed with the transaction.

In order to get this tax withholding certificate, each property owner must submit a file to the AFIP containing some specific information so it can evaluate and examine tax compliance on the part of property owners.

At this moment AFIP will verify if taxes corresponding to the property and its activity have been properly paid, otherwise this certificate will not be issued, and the property transfer will be impeded until the claimed tax irregularity is settled.

The process is long and confusing for those not specialized in this field, mainly for the ones who are not deeply updated on tax return for aliens and non residents.

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COTI is the Code of Property Transfer Offer. It is a code, not a tax, and must be obtained by the titleholder or one of the titleholders of a property prior to the transaction, offer or transfer of a property or ownership rights over a property to be built, whichever comes first. This Code shall be processed when the price of any of these acts, the estate tax base or tax value is equal to or greater than $ 5.000.000 pesos (Argentine pesos five million five).
If you are non resident in the country, you must process this code through a tax code to access to AFIP online fiscal services. The code of property transfer offer, as a non resident, must be processed by a representative or a proxy.

This tax is levied on property transfers made by natural persons and undivided successions, as long as the property was acquired by the owner after 01/01/2018. If the property is inherited or donated, then it pays capital gain tax only if the person for whom you inherited or the donor acquired it after 01/01/2018. That means that the important date here is not the date you inherited or received the donation, is the date it was acquired.

The rate on this tax is 15% on the profits between the purchase price and the sale price of the property, after discounting certain expenses. Unlike the Property Transfer Tax, this tax must be liquidated and paid before the date of the signing of the title deed. This affidavit and the payment must be shown to the notary at the moment of the signing.

It is tax of provincial jurisdiction, which is levied on, among other things, public and private contracts of onerous nature in each jurisdiction. If the contracts involve a notary public intervention, such notary public shall be accountable for paying the corresponding tax, for example, title deeds.
According to the jurisdiction, the rates vary between 0.5% and 3.6% approximately.
In the Autonomous City of Buenos Aires, the collecting agency is the Administración Gubernamental de Ingresos Públicos (Governmental Administration of Public Revenue).

It is a provincial tax that is levied on gross income, as its name so implies, with rates ranging from 3 to 5% depending on the jurisdiction.
With reference to property income in the area of the Autonomous City of Buenos Aires, taxpayers are exempted from paying this tax when they do not have more than two properties and the specified amount of income does not exceed the maximum allowed by the law.